Official announcements from the U.S. Trade Representative or major news outlets like CNN or BBC

Trump Nominates Scott Bessent as Treasury Secretary, Signaling Hawkish Economic Pivot Amid Tariff Concerns

Nov 30, 2024, 11:00 PM

Donald Trump has nominated Scott Bessent as Treasury Secretary, a move that could have significant implications for U.S.-China trade relations. Analysts suggest that Bessent's appointment may indicate a hawkish economic stance, focusing on dollar dominance, tariffs, and sanctions. This raises questions about whether the U.S. will intensify its economic coercion strategies, particularly in light of Trump's recent threats to impose additional tariffs on China. The nomination has sparked discussions about potential relief for China, despite the ongoing trade tensions. Confirmation of Bessent's appointment remains uncertain as the transition process unfolds.