Trump nominates Scott Bessent for treasury secretary after shift from Democratic support

Donald Trump has nominated Scott Bessent, a hedge fund manager and founder of Key Square Group, as his treasury secretary. Bessent has shifted from supporting Democratic candidates, including Barack Obama and Hillary Clinton, to becoming a key Trump ally. Bessent has been a significant financial supporter of Trump since 2016 and has participated in campaign rallies. His nomination, if confirmed, would place him in a powerful position within the Trump administration. Elon Musk has publicly opposed Bessent's nomination, calling it a "business-as-usual choice." Bessent recently expressed support for tariffs, aligning with Trump's trade policies during the election campaign.