President Trump summoned Treasury Secretary Scott Bessent to the White House Situation Room, where discussions were underway about the economic impacts of the ongoing conflict with Iran.
Bessent, aged 63, was engaged in a conversation with Wilfred Frost on Sky News’ Master Investor Podcast when an aide interrupted him about 13 minutes in, saying, “The president wants you right now,” as captured in the footage.
After being called, Bessent left the building at 10:22 a.m., with the microphone removed from his jacket. He returned nearly two hours later.
In his meeting with Trump, Bessent mentioned they covered “a lot of things.”
Frost later inquired about Trump’s demeanor following the urgent request, to which Bessent replied that the president was “in great spirits” and that the mission in Iran was proceeding ahead of schedule. He also revealed that his teenager was contemplating joining the military.
“I have full confidence in this team,” Bessent stated. “I would trust my child’s life in their hands.”
The conversation shifted to the ongoing hostilities with Iran, which escalated on February 28 when the U.S. collaborated with Israel in an operation that resulted in the death of Iranian Supreme Leader Ali Khamenei.
Frost noted the current strength of the U.S. dollar, which had reached new highs despite other economic indicators being negatively affected due to the war.
Part of this stability in the dollar’s value is attributed to Iran closing the Strait of Hormuz, a vital shipping route, in an attempt to exert pressure on its adversaries.
Bessent mentioned that the U.S. might start escorting international vessels through the Strait once the Iranian threat diminishes. “I think it’s possible that the U.S. Navy, maybe with the help of the United Nations, will escort the ships once it’s militarily feasible,” he speculated.
Concerns had been raised about potential Iranian underwater mines obstructing shipping lanes, but Bessent noted that no such explosives had been found. “Actually, tankers are still passing through. Even Iranian and Chinese-flagged tankers are moving through, indicating they aren’t laying mines,” he pointed out.
When asked whether the escort topic came up during Trump’s call, Bessent cleverly remarked, “Your words, not mine.”
He later revealed that the operation cost the U.S. around $11 billion, stating no price was too steep for Trump.
Meanwhile, Energy Secretary Chris Wright mentioned the idea of a channel escort was being considered, but provided no timeline. “It’ll happen pretty soon, but not just yet,” he commented. Wright also emphasized the military’s current focus was on dismantling Iran’s offensive capabilities, leaving them unprepared for escort missions at this moment.
