President-elect Donald Trump announced his nomination of Scott Bessent, a prominent investor and CEO of Key Square Capital Management, for Treasury Secretary.
“I am most pleased to nominate Scott Bessent to serve as the 79th Secretary of the Treasury of the United States,” Trump wrote in a statement on Truth Social Friday evening. “Scott is widely respected as one of the World’s foremost International Investors and Geopolitical and Economic Strategists. Scott’s story is that of the American Dream.”
“Scott has long been a strong advocate of the America First Agenda,” the statement continues. “On the eve of our Great Country’s 250th Anniversary, he will help me usher in a new Golden Age for the United States, as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the U.S. Dollar as the Reserve Currency of the World. Unlike in past Administrations, we will ensure that no Americans will be left behind in the next and Greatest Economic Boom, and Scott will lead that effort for me, and the Great People of the United States of America.”
Bessent has been an outspoken proponent for Trump’s America First economic policies, particularly his use of tariffs to revitalize American industry. In a recent op-ed at Fox News titled “Let’s talk tariffs. It’s time to revitalize Alexander Hamilton’s favorite tool,” Bessent explained the historical and practical importance of tariffs as a strategic economic tool.
As Breitbart Economic Editor John Carney reported:
Bessent’s extensive experience in global financial markets has equipped him with a deep understanding of international trade and currency dynamics. His perspectives on tariffs and economic policy reflect a blend of historical insight and contemporary financial acumen, positioning him as a compelling candidate for the Treasury Secretary position.
Perhaps most importantly, Bessent sees the main task of the Treasury Secretary as carrying forward the agenda of the president. In recent interviews, he has pointed to the strength of the economy during the first Trump administration as evidence that Trump has the right policy prescriptions for the American economy.
“Bessent’s recent public statements and writings suggest a strong alignment with the incoming administration’s economic priorities, particularly in areas concerning trade policy and domestic industry protection,” Carney added, noting that the nomination of Bessent to run Treasury would signal “a strategic emphasis on leveraging tariffs and other economic tools to advance national interests under President-elect Trump’s leadership.”
Trump also emphasized this in his announcement of the Bessent nomination, calling Bessent “a lifelong Champion of Main Street America and American Industry” who will “support my Policies that will drive U.S. Competitiveness, and stop unfair Trade imbalances, work to create an Economy that places Growth at the forefront, especially through our coming World Energy Dominance.”
