New Delhi, Jan. 28 -- The billionaire investor Scott Bessent will serve as US President Donald Trump's treasury secretary, the US Senate confirmed on Monday. The hedge fund manager has been advocating for a new universal tariffs on US imports, which would start at 2.5% and increase gradually every month, reported Financial Times.

Declaring the beginning of a "golden age" after taking over as US treasury secretary, Scott Bessent said on X that he is committed to "eliminating taxes, replacing them with a fair consumption tax and adopting a gold-backed currency"

"We'll erase debt, restore financial privacy, and unlock new technologies for a prosperous future. The golden age starts now," Bessent wrote in a post on X.

After taking over as U...