Scott Bessent, the US treasury secretary, has drawn widespread criticism for his clumsy handling of Donald Trump's renewed push to annex Greenland during the World Economic Forum in Davos. His dismissal of Denmark as 'irrelevant' and combative remarks towards European leaders have alienated allies and puzzled observers.
Bessent urged eight European nations not to retaliate against Trump's tariffs, telling them to 'take a deep breath and let things play out'. He accused French President Emmanuel Macron and European Commission President Ursula von der Leyen of making 'inflammatory statements', and described France's budget as a 'shambles'.
His defence of the Greenland gambit in US media was equally inelegant. When asked about the national emergency justifying tariffs, Bessent replied: 'The national emergency is avoiding a national emergency.' He also suggested Greenland was 'more and more attractive for foreign conquest', seemingly ignoring that Trump's own ambitions drew similar criticism.
Bessent's combative style is familiar domestically. He reportedly clashed physically with Elon Musk in the White House over spending cuts, and this week accused Federal Reserve Chairman Jerome Powell of 'politicising the Fed' – despite having himself attended court arguments on a related case.
The 63-year-old, the first openly gay treasury secretary, made his fortune at Soros Fund Management, the hedge fund of George Soros – a longtime target of Trump's supporters. Bessent was a key strategist in Soros's 1992 bet against the British pound.
