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The Latest Breaking News from Scott Bessent

US and China tariff talks begin in Geneva with hope of de-escalating trade dispute

Tariff talks begin between US and Chinese officials in Switzerland on Saturday. This follows US President Donald Trump increasing US tariffs on China to a combined 145%, and China retaliating by hitting America with a 125% levy last month.

Euronews

Whiplash reversals mean Trump’s erratic trade policy is as clear as mud

The specifics of the administration’s economic masterplan – from strollers to movies to China – change by the day

The Guardian - US

Stock markets stagnate as investors wait for results of China trade talks

“Many Trade Deals in the hopper, all good (GREAT!) ones!,” President Donald Trump posted Friday on his social media app Truth Social.

Fortune

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Switzerland's president hopes 'Holy Spirit' will guide US-China tariff talks in Geneva

The Swiss government said its talks with Bessent and US Trade Representative Jamieson Greer were “convivial and constructive” and were aimed to lay out the guidelines for a deal on the issue of customs duties to be discussed again in coming weeks.

Euronews

U.S.-China trade talks will shed light on the end goal for tariffs

The world’s two largest economies will hold official trade talks this weekend.

Fortune

IRS could use AI to replace workers after mass layoffs

Considerable IRS workforce cuts could be replaced with bots.

TechRadar

Trump Suggests Lower China Tariff, Says 80% 'Seems Right!'

US President Donald Trump signaled on Friday that he could lower tariffs on Chinese imports, as the rival superpowers prepare for trade talks over the weekend.

International Business Times

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Swiss Seize Window Of Opportunity On Trump Tariffs

Switzerland will once again Friday try to talk its way out of punitive tariffs on its exports to the United States, which would have serious ramifications for Swiss jobs and businesses.

International Business Times

Why is Trump so fixated on toys for little girls?

Asked about his tariffs’ impact, the president has repeatedly pointed to dolls – because they’re seen as feminine, childlike and frivolous

The Guardian - US

After minerals deal, Trump approves arms to Ukraine, plays down peace plan

Trump has approved a $310m sale of F-16 parts and support, and told Russia and Ukraine to sort out their own ceasefire.

Al Jazeera

S&P Futures Gain With All Eyes on U.S.-China Trade Talks, Fed Speak on Tap

June S&P 500 E-Mini futures (ESM25) are trending up +0.32% this morning as investors pin their hopes on trade negotiations between Washington and Beijing.

Barchart

Asian Stocks Lifted By Hopes For US-China Talks After UK Deal

Most Asian equities rose Friday on growing optimism that the worst of Donald Trump's trade war is past after he reached a deal with Britain and suggested he could lower tariffs on China as officials prepare for high-stakes talks this weekend.

International Business Times

Senate Dems stop Trump's big crypto bill

The landmark legislation failed to advance in the Senate because of the president's growing crypto empire

Salon

Jerome Powell says the Fed can afford to wait and see before cutting rates. Other economists aren’t so sure

A data-dependent approach might leave the central bank playing catch-up.

Fortune

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Barchart

‘Thank You China,’ Says Billionaire Bill Ackman as China Decides to ‘Engage With U.S.’ in Trade Talks

China’s embassy announced it plans to engage with the U.S. in the latest development in the U.S.-China trade war. Bill Ackman applauds the development.

The Guardian - UK

Trump and Starmer confirm ‘breakthrough’ US-UK trade deal

Announcement makes UK the first country to agree deal with US since Trump imposed sweeping tariffs in April

Al Jazeera

US-UK trade deal: How are Trump’s global tariff talks shaping up?

UK and US leaders to hold separate media events outlining Donald Trump’s first trade deal since global tariffs move.

The Independent UK

From Oval Office blowout to landmark minerals deal, how Ukraine's diplomacy unfolded

The road to the U.S.-Ukraine minerals agreement was paved with challenges

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Fortune

OpenAI wants to sell 'democratic AI' to the world—and potentially increase its soft power globally

OpenAI’s Stargate seeks to export ‘democratic AI’—but will it also help the company secure more soft power on the global stage?

Kiplinger

Stock Market Today: Stocks Rise Despite Stagflation Risk

The business of business continues apace on continuing hope for reduced trade-related uncertainty.

The Independent UK

‘You were much better at the Electric Slide’ Bessent reveals to Waters they partied together years ago

Scott Bessent surprised Rep. Maxine Waters during a House committee hearing with the revelation that they had partied together years before in the Bahamas.

Latin Times

Trump Admin Sidesteps Congress by Calling Trade Deficit a National Emergency, Dem Lawmaker Says: 'It Hasn't Been for Four Decades'

Rep. Gregory Meeks (D-NY) criticized Scott Bessent for claiming that long-standing trade deficits constitute a "national emergency" and bypassing Congress.

Fortune

Goldman Sachs expects China tariffs to drop soon. But the bank still puts the chance of a recession at 45%

Although “the mood music with China has improved,” the bank’s chief economist still expects other tariffs increases—and sees “a meaningful risk that some of the paused ‘reciprocal’ tariffs will take effect after all.”

The Guardian - US

Colbert on Trump administration’s ethos: ‘Take full responsibility and dump it on somebody else’

Late-night hosts discuss Newark airport chaos, Trump’s foreign movie tariffs and Canadian PM’s White House visit

Fortune

U.S.-China trade talk news boosts markets

Major Asian markets in China, Japan and South Korea all rose—but by less than 1%. Investors seem to be betting that the Papal Conclave will produce results before the trade negotiations do.

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