Trump Treasury nominee appears open to carbon tariffs

By Amelia Davidson | 01/17/2025 06:34 AM EST

Scott Bessent called carbon tariffs against the Chinese an “interesting idea” but balked at the idea of a “clean energy race.”

Scott Bessent at his confirmation hearing.

Scott Bessent at his confirmation hearing to be Treasury secretary on Thursday. Angelina Katsanis/POLITICO

President-elect Donald Trump’s pick to lead the Treasury Department spoke repeatedly about energy during his Thursday confirmation hearing, including a willingness to implement carbon tariffs against China.

Scott Bessent discussed his views about American energy dominance during a policy-heavy hearing before the Senate Finance Committee. Bessent, a hedge fund manager, is widely expected to win confirmation.

When questioned by Sen. Bill Cassidy (R-La.) on the potential of implementing a tariff against China based on carbon pollution, Bessent appeared open to the idea. Cassidy has repeatedly advocated for such a tariff, despite pushback from more conservative GOP members.

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“I think this is a very interesting idea. It could be part of an entire tariff program,” Bessent said.

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