According to online reports, according to the Wall Street Journal, Scott Bessent said in his first interview after being nominated by President-elect Trump as U.S. Treasury Secretary that his policy focus will be to fulfill Trump's various tax cuts promises. The measures include making permanent the tax cuts from his first term and eliminating taxes on tips, social protection benefits and overtime pay. Besent said tariffs and spending cuts, as well as "maintaining the dollar's status as the world's reserve currency," would be priorities. Reported that Besent is one of Trump's closest advisers, adding depth to Trump's economic proposals and defending his more promising trade policy plan. He believes President-elect Trump's plan to extend tax cuts and deregulate parts of the U.S. economy will create an "economic carnival."