Appointed by US President-elect Donald Trump to head the Treasury Department, Scott Bessent said this Thursday that the creation of a sovereign wealth fund or some other supplementary fund of the country’s assets is “very much on the cards” and is an idea very exciting.
“We have fantastic assets that could be generating leverage or being used for multiple revenue generating opportunities,” Bessent told the U.S. Senate Finance Committee.
But given the large U.S. budget deficit, the first order of business before implementing any such plan should be to “get our house in order in the short term,” he added.
Scott Bessent told senators on Thursday that he is interested in potentially imposing tariffs on carbon emissions.
“It’s a very interesting idea that could be part of a complete tariff program,” Bessent told the U.S. Senate Finance Committee. “President Trump has not yet taken office, but if confirmed, I look forward to working with him on a number of strategies, some of which could be specifically aimed at carbon.”
Bessent said other tariffs could target other business practices.
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(com Reuters)
