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The Latest Breaking News from Scott Bessent

This summer will be decisive for the economy and Wall Street

More fiscal sticker shock could send Treasury yields higher and add more pressure on the dollar, which is already down 10% this year, its worst first-half performance in more than 50 years.

Fortune

‘I take exception to the idea that the bill cuts Medicaid’: Treasury Secretary angrily defends bill that cuts Medicaid

I take exception to snatching millions of people's healthcare away.

We Got This Covered

Canada Rescinds Tax On US Tech Firms In Hopes Of Trump Trade Deal

Canada will rescind taxes impacting US tech firms that had prompted President Donald Trump to retaliate by calling off trade talks, Ottawa said Sunday, adding that negotiations with Washington would resume.

International Business Times

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Deal with Beijing will speed China's export of minerals to the U.S., treasury secretary says

Washington and Beijing have signed a trade agreement that will make it easier for American firms to obtain magnets and rare earth minerals from China that are critical to manufacturing and microchip production

The Independent UK

US reaches deal with China to speed up rare-earth shipments, White House says

China confirms details amid efforts to end trade war but reiterates it will continue to approve export permits

The Guardian - US

Mexican President Sheinbaum Says There Is 'Simply No Proof' That Local Banks Laundered Money For Cartels

Mexican President Claudia Sheinbaum rejected U.S. sanctions against three Mexican banks over money laundering accusations

Latin Times

Super funds spared billions after US axes 'revenge tax'

The Trump administration says it won't pursue a contentious tax targeting foreign investors after negotiating a withdrawal from a global minimum tax agreement.

AAP

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U.S. Sanctions Mexican Banks Over Alleged Role in Laundering Cartel Funds, Buying Fentanyl Chemicals

The U.S. Treasury Department has sanctioned three Mexican financial institutions, alleging they were used by drug cartels to launder millions of dollars.

Latin Times

Trump's Fed Chairman Shortlist Is In: What Investors Need To Know

President Donald Trump's shortlist for the next Federal Reserve chair is heating up, fueling bets on deep rate cuts, pressuring the dollar and reigniting concerns over the Fed's long-guarded independence.

Benzinga

Voices: Who will Trump pick to replace his ‘terrible’ and ‘stupid’ Federal Reserve boss?

COMMENT: For daring to speak out against tariffs and refusing to lower interest rates, Jay Powell has become the president’s public enemy number one. His successor could be announced early out of spite – and there’s one clear contender who’s up to the job, says James Moore

The Independent UK

US-China Trade Deal Could Be Finalized Next Week, Says Harvard Scholar: 'They Are Going To Stabilize This'

A Harvard scholar has suggested that the United States and China are on the verge of finalizing a trade deal, with the potential for an agreement as soon as next week.

Benzinga

Jalisco Cartel Leader 'El Mencho' Slapped With Sanctions For Role In Drug Trafficking And Killings

"CJNG's reign of terror across Mexico and its trafficking of fentanyl into the United States has destroyed countless innocent lives," said Treasury Secretary Scott Bessent when announcing sanctions

Latin Times

‘Ninja’ Scott Bessent says Elon Musk fancies himself as ‘a viking’ as he tries to downplay their feud

Treasury secretary and former head of DOGE clashed in West Wing in April within earshot of Donald Trump in Oval Office

The Independent UK

Treasury Secretary Bessent Reacts To Reported Fight With Musk, Says He's 'More of a Ninja' While Comparing Elon To a 'Viking'

Treasury Secretary Scott Bessent addressed the fight with Elon Musk, which at one point got physical, according to reports

Latin Times

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Kiplinger

Who Will Replace Jerome Powell as Fed Chair?

With Jerome Powell's term set to expire in May 2026, President Donald Trump is actively preparing to name a new Fed Chair.

The Independent UK

The deadline approaches for Trump’s ‘90 deals in 90 days.’ So far he has ‘frameworks’ for two

President Donald Trump’s sweeping ‘Liberation Day’ tariffs that he ushered in on April 2 are set to go into effect in less than a month

Euronews

President Trump says he’ll set unilateral tariff rates within weeks

The president said that he would set country-specific rates in less than two weeks — after reaching a tariff deal with China.

Evening Standard

London stocks climb higher after ‘watershed’ spending review

The FTSE 100 index closed up 11.27 points, 0.1%, at 8,864.35.

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Roll Call

Bessent, House Democrats spar over budget package's debt boost - Roll Call

Democrats questioned Treasury Secretary Scott Bessent over the effect of Republicans’ “big, beautiful” reconciliation bill on the debt.

Euronews

US and China strike a deal on trade framework after talks in London

The London talks are the latest in the two countries’ joint efforts to find a middle ground to resolve a trade dispute which threatens to plunge the world into recession and economic instability.

The Independent UK

Steve Bannon says Trump should launch an investigation into Musk for alleged drug use

Steve Bannon says the Trump administration should investigate Elon Musk and look into his alleged drug abuse.

The Guardian - UK

FTSE 100 falls short of record closing high; US-China trade talks ‘going well’ as meeting resumes – as it happened

Rolling coverage of the latest economic and financial news, including latest UK labour market report

Fortune

Bitcoin surges to $108,000 as top US and Chinese officials meet to discuss tariffs

Treasury Secretary Scott Bessent will meet with top Chinese officials in London this week.

Latin Times

White House Doesn't Deny Physical Fight Between Musk And Treasury Secretary Bessent

The White House did not deny a reported physical altercation between former DOGE head Elon Musk and Treasury Secretary Scott Bessent: "I certainly wouldn't describe it as a fistfight," said Karoline Leavitt

The Independent UK

What the White House said about claims Musk ‘bodychecked’ Treasury secretary

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