By Breaking Editor Scott Bessent, a high-profile hedge fund manager and a key economic advisor to former President Donald Trump during his campaign and transition, has been the subject of extensive online commentary, often mistakenly identified as Treasury Secretary in public discourse. While Bessent was a leading candidate for the Treasury post, which ultimately went to Steven Mnuchin, the persistent online attribution underscores his significant influence and the controversies surrounding him.
Much of the online discussion centers on Bessent’s purported involvement in U.S.-China trade relations. Commentary suggests he played a central role in complex negotiations, with reports citing a “very positive framework” agreement between the U.S. and China, leading to a potential extension of a trade truce. Posts attributed to him indicated China would delay rare earths rules by a year and commit to substantial purchases of U.S. soybeans. Bessent was also reportedly involved in discussions that led to 100% tariffs on China being taken “no longer under consideration” after trade talks in Malaysia, alongside claims that a TikTok deal was set to be finalized during a meeting between President Trump and Chinese President Xi Jinping.
A particularly contentious point emerged from Bessent’s public comments regarding the impact of tariffs on American farmers. He reportedly stated he “felt this pain” from China, justifying it by claiming, “I’m actually a soybean farmer.” This assertion drew sharp criticism, with numerous online posts highlighting his status as a billionaire hedge fund manager and landowner. Critics vehemently argued that Bessent merely rents his land to tenant farmers, asserting, “SCOTT BESSENT IS NOT A FARMER, HE IS A LANDHOLDER! NOT. A. FARMER!” calling him a “god damned liar and crook.”
Domestically, Bessent was cited in online posts warning of severe consequences from a government shutdown. He reportedly stated that the U.S. would be unable to pay military personnel by November 15 if the government remained closed, a warning that generated significant concern. On the international front, Bessent sparked controversy by criticizing an anti-tariff Ronald Reagan ad run by Ontario Premier Doug Ford, labeling it as “terrible, terrible judgement” and even accusing Canada of engaging in “propaganda against U.S. citizens” and “PSYOPs,” comments that were seen by some as inflammatory and damaging to U.S.-Canada relations.
Further criticisms leveled against Bessent online include allegations of personal financial conflicts of interest, specifically regarding “significant investments in Argentina that stand to benefit from recent U.S. financial actions.” His association with venture capitalist Peter Thiel also drew negative commentary, with some posts claiming they “give the LGBTQ community a really bad name.” Historically, Bessent’s professional background, including his tenure as Chief Investment Officer at George Soros’s Soros Fund Management from 2011 to 2015, was also noted amidst the often-harsh criticism directed at his political alignment and perceived economic policies.