Donald Trump’s Treasury secretary Scott Bessent is pushing for new universal tariffs on US imports to start at 2.5 per cent and rise gradually, said four people familiar with the proposal.

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’s Thursday sitdown with the Senate is set to be far from the spotlight during this week of dramatic confirmation hearings in Washington, but it could provide nuggets for market watchers trying to sort out some of the early mixed signals about Trumponomics 2.

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.

President Donald Trump's Treasury secretary pick, Scott Bessent, pushes for new tariffs and warns of a 'calamity' if tax cuts expire. Confirmed by the Senate, Bessent emphasizes reducing taxes, increasing oil production to control prices,