Scott Bessent has been confirmed as US Treasury Secretary, advocating for universal tariffs starting at 2.5%. He aims to eliminate taxes, implement a consumption tax, and adopt a gold-backed currency,

Scott Bessent will lead President Donald Trump's financial agenda as treasury secretary. Bessent, a billionaire hedge fund manager, was confirmed in a 68 to 29 U.S. Senate vote on Monday and sworn in on Tuesday.

Newly confirmed U.S. Treasury Secretary Scott Bessent is advocating a plan to impose universal tariffs on imports, according to the Financial Times. The proposal suggests starting tariffs at 2.5%, increasing by 2.