How Trump's Treasury pick's proposed tariffs might spur a global rise in protectionist policies

US President-elect Donald Trump has nominated Scott Bessent as the next treasury secretary to implement his campaign promises, including tax cuts and new import tariffs. Trump said Bessent will address the imbalances in foreign trade and focus on economic growth. Bessent is a hedge fund manager who advocates deficit reduction and a change in the US Federal Reserve's approach to conducting monetary policy. In recent times, he has called for tax reform and deregulation to encourage growth. #trump #treasurypick #bessent For more news go to: http://www.dw.com/en/ Follow DW on social media: ►Instagram: https://www.instagram.com/dwnews ►TikTok: https://www.tiktok.com/@dwnews ►Facebook: https://www.facebook.com/deutschewellenews/ ►Twitter: https://twitter.com/dwnews Für Videos in deutscher Sprache besuchen Sie: https://www.youtube.com/dwdeutsch Subscribe: https://www.youtube.com/user/deutschewelleenglish?sub_confirmation=1