Donald Trump’s Treasury secretary Scott Bessent is pushing for new universal tariffs on US imports to start at 2.5 per cent and rise gradually, said four people familiar with the proposal.

Newly confirmed U.S. Treasury Secretary Scott Bessent is advocating a plan to impose universal tariffs on imports, according to the Financial Times. The proposal suggests starting tariffs at 2.5%, increasing by 2.

The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to become the next Treasury secretary and enact the Trump administration's economic agenda of tax cuts and tariffs.