President-elect Donald Trump’s pick of Scott Bessent as Treasury secretary may give Beijing room to negotiate with the US over their trade tensions, in part due to his moderate stance on tariffs.

The early reviews for Treasury secretary nominee Scott Bessent from Wall Street are in — and they're positive. But now the hard part begins.

The US markets reacted positively to President-elect Donald Trump’s nomination of investor and hedge fund manager billionaire Scott Bessent for the Department of Treasury.

Bessent will lead President-elect Donald Trump’s Treasury Department. Bessent is the first out gay member of Trump’s Cabinet.

Scott Bessent, Donald Trump's pick for Treasury Secretary, is a veteran Wall Street executive who advised Trump during his presidential campaign and has praised his economic agenda of tariffs, lower taxes,

President-elect Donald Trump said he is nominating Scott Bessent, who runs macro hedge fund Key Square Group, as the next US Treasury secretary, enlisting a key adviser to manage the sweeping economic agenda he has vowed to enact in a second term.

The centerpiece of Treasury secretary nominee Scott Bessent's economic agenda is what he calls a "3/3/3" approach to policy: cutting the budget deficit to 3% of GDP, achieving 3% annual growth, and increasing domestic oil production by 3 million barrels per day.