The U.S. Senate confirmed billionaire investor Scott Bessent on Monday to serve as President Donald Trump's treasury secretary, giving him the delicate balancing act of cutting taxes and curbing deficits while putting forward a plan on tariffs that doesn't jeopardize growth.

The US Senate confirmed Scott Bessent as Treasury Secretary. He faces balancing tax cuts with deficit control and crafting a tariff strategy, becoming the first openly gay person in the role.