President-elect Trump on Friday named billionaire investor Scott Bessent to be his Treasury secretary. Bessent would be the key leader of the president-elect’s economic team, which will be tasked with imposing an aggressive tariff regime meant to shake up global trade while keeping financial markets calm amid the disruption.

Key Takeaways Scott Bessent, Donald Trump's pick for Treasury Secretary, was an economic advisor during his campaign and championed an agenda of tariffs, lower taxes, and deregulation.Bessent is a hedge fund manager who previously worked for liberal billionaire George Soros.