Treasury Secretary Scott Bessent Secures 90-Day Pause on Tariffs to Calm Markets

Bessent, the first openly gay cabinet member in a Republican administration, leverages his financial expertise to influence U.S. economic policy during heightened global trade tensions.

• Scott Bessent, Treasury Secretary under President Trump, successfully advocated for a 90-day suspension of new tariffs to stabilize volatile financial markets.
• Bessent's decision followed significant market panic after the initial implementation of widespread tariffs, highlighting his influence within the administration.
• His diverse background includes working for George Soros, teaching during the 2008 financial crisis, and founding his own hedge fund, showcasing his deep financial expertise.
• Bessent's appointment marks a historic milestone as the first openly gay cabinet member in a Republican administration, reflecting broader societal shifts in representation.
• Rooted in his South Carolina upbringing, Bessent's pragmatic approach to economic policy emphasizes stability and security, shaped by personal and professional experiences.

3 Articles

The Telegraph The Times The Japan Times