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The Latest Breaking News from Scott Bessent

US officials pressed China on rare earths, farm goods commitments, Bessent says

US officials urged China to honor commitments on rare earths and agricultural products. These discussions occurred before a potential meeting between President Trump and President Xi. China's recent trade restrictions were viewed as problematic by the United States. Both sides agreed to use consultation channels to strengthen economic ties. This…

The Economic Times

US issues sanctions on support networks for Iran's Mahan Air; India-based sales agent included

The United States sanctioned six entities and individuals for supporting Mahan Air. These companies acted as general sales agents for the Iranian airline. Mahan Air allegedly aided Iran's Islamic Revolutionary Guard Corps. One sanctioned entity is India-based Skiez Travels and Logistics Private Limited. The Treasury Department aims to cut off…

The Economic Times

Scott Bessent Hits Iran-Backed Maritime Network With Sanctions, Says US Won’t Let Tehran 'Hold Global Commerce Hostage'

The Treasury Department announced sanctions against two Iran-linked companies accused of supporting an Islamic Revolutionary Guard Corps-backed maritime scheme, with Treasury Secretary Scott Bessent warning that Tehran is exploiting global shipping networks to generate revenue.

Benzinga

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Treasury Secretary parrots Elon Musk’s claim that Americans won’t need to save for retirement because of AI’s abundance

Scott Bessent echoed Elon Musk’s claims that Americans won’t need to save for retirement thanks to the “abundance of AI”.

The Independent UK

China accuses US of 'AI hegemonism', threatens countermeasures over potential probes

The ministry said Washington was threatening Chinese companies with punishment based on allegations they used "distillation" to copy advanced US AI models, despite what it called a lack of factual or legal grounds.

The Economic Times

Elon Musk and Mark Zuckerberg Side With Nvidia in Escalating Battle Over Who Controls AI's Future

Elon Musk and Mark Zuckerberg support Nvidia in a Silicon Valley debate over AI's future, advocating for open-source models against rivals urging regulatory containment due to security concerns.

International Business Times UK

Why US' Russia act need not worry India

The proposed US Sanctioning Russia Act, which could impose tariffs on major buyers of Russian oil and gas, may have limited chances of becoming law. The bill could impact India and China, but political hurdles, waiver provisions and opposition within the Trump administration may slow its progress. India is advised…

The Economic Times

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Treasury Department Has a Troubling Update for Every American Taxpayer

The Treasury Department has a problem that reaches far beyond Washington, D.C., and it does not arrive with a dramatic new tax form. The federal government now spends an enormous amount of money simply paying interest on money it already borrowed, and that bill keeps getting harder to ignore.

The Free Financial Advisor

Top US tech players back open-weights AI, Nvidia founder Jensen Huang shares letter in debut X post

Leading American technology firms have jointly endorsed open-weight artificial intelligence models. They believe this approach is crucial for maintaining United States leadership in AI development. Open models allow broader access, fostering innovation and economic participation across various sectors. Concerns about intellectual property theft are acknowledged and require targeted legal solutions.…

The Economic Times

U.S., Mexico Announce Largest-Ever Financial Crackdown on Jalisco Cartel, Sanctioning 55 People and Businesses

Treasury Secretary Scott Bessent said sanctions are intended to deny CJNG "the resources it uses to traffic fentanyl, terrorize communities, and threaten American lives"

Latin Times

The Trump Coin Case Ends, but Legal Questions Remain

As the coin moves closer to production and distribution, it will be up to the American people to decide whether the controversial coin is deemed a success.

Reason

Nvidia's CEO Is Telling America To Stop Fearing AI And Not Focus On Hypothetical Scenarios

Nvidia CEO Jensen Huang is urging Washington not to let fears about artificial intelligence dictate public policy, dismissing concerns that the technology will eliminate large numbers of jobs or pose an existential threat to humanity.

International Business Times

Trump scoffs at ‘affordability’ as he touts economic policies at Georgia rally

President visits swing state to promote ‘Trump accounts’ and says high prices lingering from Joe Biden’s presidency

The Guardian - US

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

The Treasury Secretary says he hasn’t been to Fort Knox, but said all $600 billion in gold there is “present and accounted for.”

Fortune

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The Economic Times

White House accuses China's Moonshot of stealing Anthropic AI

A top White House official on Wednesday accused Chinese AI startup Moonshot AI of covertly copying Anthropic's most advanced model to build its Kimi K3. Michael Kratsios, director of the White House Office of Science and Technology Policy, said in a post on X that the United States had "information…

International Business Times

Chinese AI Company Moonshot Has Achieved Major Milestones. The White House Accused Of Taking From Anthropic

A White House official accused Moonshot AI of distilling Anthropic's Fable model to help develop K3, which made key technological breakthroughs.

The Economic Times

Pakistan seeks $10 billion fund from US after mediating Iran talks

Pakistan has requested a ten billion dollar exchange stabilization facility from the United States. This loan aims to boost foreign reserves and ease pressure on the Pakistani rupee. The request follows Pakistan's diplomatic efforts in brokering talks over the Iran war. Such a facility would reduce reliance on multilateral financing…

Benzinga

After Argentina, Pakistan Reportedly Seeks $10 Billion US Backstop Facility to Bolster Fragile Economy

In a bid to strengthen its economy, Pakistan has reportedly sought a $10 billion exchange stabilization facility from the United States.

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Salon

Could Trump end up on your money?

Putting living politicians on currency is uncommon but not unheard of

Benzinga

Scott Bessent Warns of Possible Sanctions on Chinese AI Over Alleged IP Theft: 'This Administration Supports Open-Source Models, But...'

Treasury Secretary Scott Bessent has indicated that the Trump administration is set to probe alleged intellectual property theft by Chinese artificial intelligence models.

The Economic Times

Pakistan seeks $10 billion US stabilization facility to shore up reserves

Pakistan has requested a ten billion dollar exchange stabilization facility from the United States. This loan aims to bolster foreign exchange reserves and ease pressure on the Pakistani rupee. The request follows Pakistan's diplomatic efforts in brokering talks over the Iran war. This facility would reduce reliance on multilateral financing…

Saving Advice

Ted Cruz Calls Trump Accounts a Path to Social Security Privatization—Economist Disagrees

Social Security privatization has been one of the most politically sensitive topics in Washington. Now, a new debate has emerged after Senator Ted Cruz described...

Latin Times

State Department Report Details Decades of Alleged Cuban Support for Spy Rings and Far-Left Extremist Groups

The document concludes that Cuba's influence has outlasted the Cold War through networks of activists, political organizations and international partnerships

International Business Times

U.S. And China's Competition Over Frontier Models Intensifies. They Will Now Hold AI Talks

The talks are expected to focus on AI safety, frontier models, and government oversight amid growing concerns over military applications and cyber risks.

International Business Times

American AI Companies Have Accused Chinese Counterparts Of Stealing. The Trump Admin Could Take Measures

Treasury Secretary Scott Bessent said the U.S. could sanction China over the "theft" of American AI models.

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