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Donald Trump’s advisers have sought assurances from top candidates for Treasury secretary that they are committed to his big tariff plans, people familiar with the talks said.
The push from Trump’s circle comes as a top economic cabinet post is being fought between hedge fund manager Scott Besant and Howard Lutnick, chief executive of financial firm Cantor Fitzgerald and co-chairman of Trump’s transition team. next administration.
Trump has announced a series of jobs in the past week in national security, justice, health and energy sectors, but has refrained from making any decisions on top economic positions amid intense jibes over the roles.
Bessant had been seen as the front-runner for Treasury secretary, but Lutnick emerged as a contender with the support of Elon Musk, a billionaire investor who has become part of the president-elect’s inner circle.
Musk, who sat next to Trump at the UFC championship fight in New York on Saturday night, wrote on X that “Bessant is the usual choice as a business, while @howardlutnik will actually make a difference”.
Besant and Musk discussed the issue on Saturday after the tweet, according to a person familiar with the situation.
People close to the process said other contenders could also emerge as dark horses.
Robert Lighthizer, who served as U.S. trade representative in the first administration, had previously expressed interest in becoming Treasury secretary, several people familiar with discussions within Trump’s team said.
Pressure for assurances on Trump’s tariff agenda has been particularly heavy on Besant because of his previous comments in the Financial Times describing him as taking “maximal” positions in negotiations with trading partners. There were tools.
It reflects a desire among Trump aides not to repeat the dynamic on trade of his first administration, in which then-Treasury Secretary Steven Mnuchin often blocked tariff plans for fear of disrupting markets. had tried
Tariffs have long been central to Trump’s plans to boost American manufacturing, create jobs and lower prices.
He has called it “the most beautiful word in the dictionary” and “the greatest thing ever”. He has touted such tariffs as an effective way to offset the cost of other pillars of his economic agenda, including huge tax cuts for Americans.
In addition to 60 percent tariffs on all Chinese imports, Trump has imposed a universal tariff of up to 20 percent on all goods coming into the United States.
Whoever Trump chooses as his Treasury secretary will play a key role in implementing those policies as well as managing the economic impact — along with America’s top trade official.
Since Trump was elected, Besant has been defensive about his commitment to implementing the president’s economic vision. Besant’s critics seized on his comments to the FT as a sign that he would be soft on the issue.
In a Fox News poll published Friday, Besant doubled down on his support, saying the tariffs are “finally a way for Americans to stand up.”
In the days since his election, Trump has floated a raft of nominations, at least one of which could face a tough confirmation battle in the Senate.
Some Republicans have objected to the nomination of former Florida congressman Matt Gaetz for U.S. attorney general.
The US House of Representatives has investigated Gaetz for alleged ethics violations, including sexual misconduct, drug use and the acceptance of gifts, allegations he has denied. Lawmakers are squabbling over the release of the congressional investigative report now that Gaetz has resigned from the House.
Sen. Markoin Mullen, a Republican from Oklahoma who has criticized Gaetz for his alleged misconduct, told NBC on Sunday that Congress “absolutely” should release the report and that the Senate “should have access to it.” Should get it”.
House Republican Speaker Mike Johnson reiterated his opposition to releasing the report, insisting that once Gaetz resigned from the chamber, he no longer had jurisdiction over the matter.
