This is not theater,” said Treasury Secretary Scott Bessent about Trump’s reciprocal tariffs, though Bessent indicated there’s plenty of room for trade diplomacy.

The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.

Treasury Secretary Scott Bessent appeared on FOX Business Network's "Kudlow" and urged Republicans to make President Donald Trump's tax cut permanent, rather than a temporary extension.