The veteran investor will be at the center of President Trump’s efforts to cut taxes, fight inflation and impose stiff tariffs on imports.

Scott Bessent was sworn in as Treasury Secretary on Tuesday, taking the helm of one of the government agencies most critical to President Donald Trump’s sweeping economic agenda.

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.