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The Latest Breaking News from Scott Bessent

Stocks fall as Trump administration waffles on trade deals

Trump downplayed progress on Tuesday as investors await the Federal Reserve.

Fortune

Treasury Secretary Falters as Democratic Lawmaker Asks Who Pays Tariffs: 'It's a Very Complicated Question'

Rep. Mark Pocan (D-WI) was clearly unsatisfied with the stumbling response from Treasury Secretary Scott Bessent when asked who pays tariffs.

Latin Times

Treasury Secretary Mocked for Proposing to Raise the Debt Ceiling Without Using 'Any Gimmicks': 'Printing Money IS the Gimmick'

Despite warnings that the U.S. could run out of money by July, Scott Bessent insisted the country will not default on its debts during a hearing on Tuesday.

Latin Times

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RSM chief economist: 'Recession will start on the docks of Los Angeles'

“The price of those policies will be first paid at the ports and then spread to the rest of the economy,” RSM’s Joseph Brusuelas wrote, referring to the president’s tariff and trade policies.

Fortune

No Signs Of US Recession, Treasury Secretary Says

There are currently no signs that the United States has entered a recession despite the world's largest economy recording a contraction in the first quarter, the US Treasury Secretary said Tuesday.

International Business Times

What Treasury Secretary Scott Bessent said at the Milken event (and how his critics responded)

Also: Trump’s movie tax will lead to fewer and more expensive films, experts said; non-profit retains control of OpenAI.

Fortune

UK business activity falls for the first time since October 2023; US trade deficit hits record; FTSE 100’s record run continues – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

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Dollar Recovers Some Losses, Stocks Gain As Traders Eye Tariff Deals

The dollar rose in Asia on Tuesday fuelled by hopes for trade deals to avert Donald Trump's sweeping tariffs, while equities mostly rose as investors await the Federal Reserve's latest policy decision.

International Business Times

Treasury Secretary touts ‘golden age economy’ in Milken speech but says little on tariffs

Scott Bessent predicted that “trading relations will be stronger” but largely avoided the topic of tariffs in an onstage speech.

Fortune

When Tariff Shortages Arrive, Here's What Might Be Missing

Sex toys, blenders, baby strollers, microwaves, hair dryers, and other affordable goods that Americans take for granted could soon be in short supply.

Reason

Donald Trump’s cartoon-like chaos leaves US economy on unstable course

Uncertainty generated by tariff policy underlines US president seemingly unable to choose a path and stick to it

The Guardian - UK

The IRS is in chaos

DOGE, departures, data agreements and more are creating havoc at the IRS.

Kiplinger

OPINION - The US-China trade war is about to get worse — and it will get worse for Americans first

According to “many, many people”, Donald Trump told supporters this week, these have been “the most successful first 100 days of any administration in the history of our country”. Much depends on what “successful” means — and for whom. Anyone with a pension or who owns shares would struggle to…

Evening Standard

5 Times the Trump Team Told Americans To Accept Being Poorer

Trump's comment about how "dolls" will "cost a couple of bucks more" is the latest in a long trend of nationalist conservatives disparaging affordable stuff.

Reason

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The Guardian - UK

UK preparing to ban consumers from buying crypto with borrowed funds

Soaring cryptocurrency values after Trump election has put pressure on financial regulator to take tougher line

The Independent UK

China says it is ‘evaluating’ US offer for talks on Trump tariffs

Beijing warns Washington that any attempt to use talks as pretext to engage in coercion and extortion won’t work

The Independent UK

Ukraine-Russia war latest: Putin and Trump ‘exchange WW2 anniversary greetings’ as Moscow marks Victory Day

Moscow event is taking place under tight security amid fears Ukraine could carry out drone strikes

The Independent UK

The minerals deal is advantageous for Ukraine – but also for the United States

THE INDEPENDENT VIEW: Editorial: The ‘Art of the Deal’ may have been Donald Trump’s abiding contribution to literature but it is Volodymyr Zelensky, it now seems, who used his personal diplomacy with the US president during the funeral for Pope Francis to excellent effect

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news in one place.

100's of premium titles.
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The Guardian - UK

Trump administration readies first sale of military equipment to Ukraine

State department certifies licence for ‘$50m or more’ in defence hardware and services after minerals deal signed

Evening Standard

Downing Street welcomes US Ukraine economic deal

The two countries signed off on an agreement on Wednesday that is expected to give the US access to Ukraine’s mineral resources.

The Guardian - UK

Cautious optimism in Ukraine over minerals deal with Trump

While details remain to be finalised, Zelenskyy may have have secured a better agreement than first seemed likely

Evening Standard

UK support for Ukraine ‘steadfast’, says Lammy as he welcomes US deal

Ukraine and the US signed off on an economic agreement on Wednesday.

The Independent UK

Ukraine has prised Trump away from the Kremlin with minerals deal in triumph of diplomacy

ANALYSIS: The US-Ukraine mineral deal is good for both countries and the first sign that Trump may turn away from Putin, world affairs editor Sam Kiley writes

Evening Standard

US-Ukraine minerals deal text revealed as Donald Trump makes key concession

White House Press Secretary Karoline Leavitt describe the agreement as a ‘first of its kind, historic’ partnership, which will ensure the ‘long-term economic success of Ukraine’

The Guardian - AU

Trump approves first weapons shipment to Ukraine since becoming president, report says, after minerals deal agreed – as it happened

Trump administration suspended delivery of US military aid to Ukraine in March but is now set to restore exports

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