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The Latest Breaking News from Scott Bessent

'Permanent damage has been done,' portfolio manager warns, as markets rejoice following Trump's tariff freeze

Stock markets rebounded following the announcement that tariffs would ratchet down to a 10% universal levy, except for China.

Fortune

Bessent denies bond selloff made Trump back down on tariffs

Hedge funds typically profit handsomely from the $1 trillion “basis trade,” but the Federal Reserve could be forced to step in as yields surge.

Fortune

Trump puts some tariffs on ice after days of global mayhem—except for China, ‘based on the lack of respect’

The three-month pause comes after trillions evaporated from the stock market over the course of a market-melting start to the week.

Fortune

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Donald Trump announces 90-day tariff pause for most nations

US PRESIDENT Donald Trump has abruptly backed down on his tariffs on most nations for 90 days but raised his tax rate on Chinese imports to 125…

The National (Scotland)

Jamie Dimon eyes a ‘likely’ recession, unless the Trump administration turns tariffs into trade deals: ‘That’s the best thing they can do’

Dimon, CEO of JPMorgan Chase, is one of the most respected figures in corporate America.

Fortune

Trump Tells US To 'Be Cool' As China, EU Strike Back

US President Donald Trump brushed off global market panic Wednesday after China and the European Union announced retaliatory tariffs, telling Americans to stay "cool" despite his spiraling trade war.

International Business Times

IRS chief resigns after Trump administration strikes deal to share undocumented taxpayer data

‘Backroom deal’ could hand taxpayer data to ICE agents as part of Trump’s deportation blitz

The Independent UK

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US Treasury Chief Defends Tariffs, Warns Against Aligning With China

US Treasury Secretary Scott Bessent warned countries Wednesday against aligning with China on trade, as he defended President Donald Trump's move to remake the world's biggest economy through sweeping tariffs that have stoked market turmoil.

International Business Times

Trump's tariff message gets muddled

While the billionaires in Trump's orbit may have different visions, they all want the same thing

Salon

How about Trump tariff live updates — first major price increases hit big tech

President Donald Trump's tariffs been paused for some countries, and we're bringing you live updates on the impact across the tech world.

Tom’s Guide

Internal Revenue Service agrees to send immigrant tax data to ICE for enforcement

The Internal Revenue Service has agreed to share immigrants’ tax data with Immigration and Customs Enforcement for the purpose of identifying and deporting people illegally in the U.S. That's according to a document signed by Treasury Secretary Scott Bessent and Department of Homeland Security Secretary Kristi Noem

The Independent UK

Treasury Secretary Scott Bessent says negotiations over tariffs are happening, and about 70 countries have called the White House since 'Liberation Day' to talk trade

“Trying to negotiate individual trade agreements with 70 (or more) countries is difficult and will take time,” a research fellow for a libertarian think tank said.

Fortune

Trump confirms 104% tariffs on Chinese goods as part of unfolding global trade war

Beijing vows to ‘fight to the end’ as president claims ‘many’ countries are seeking a deal with US

The Guardian - US

Trump Official Insists Tariff Negotiations Had 'Nothing to Do With' Stock Market Tanking for Several Days

Scott Bessent defended Trump's approach to global trade talks, insisting the stock market's recent plunge had nothing to do with ongoing tariff negotiations.

International Business Times

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The Independent UK

White House says nations are rushing to make deals with Trump before tariffs start

Treasury Secretary Scott Bessent reiterated that foreign leaders should ‘keep their cool’ over the president’s sweeping global tariffs

The Guardian - UK

Reeves tries to soothe market jitters after sell-off driven by Trump tariffs

Wall Street rises after Treasury secretary says US can reach ‘some good deals’ with trading partners

Fortune

Markets will keep tanking until Trump tells them what it is he actually wants, Treasury’s Bessent reportedly tells president

President Trump is told to provide a road map to investors on how he intends to chart a way out of the tariff crisis he has unleashed before it spirals out of control.

Fortune

Trump economic officials revere billionaire Stanley Druckenmiller, but he says he does not support tariffs over 10%

The administration has disappointed Wall Street amid the stock market’s avoidable tailspin.

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news in one place.

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The Guardian - US

Trump discusses ‘major’ tariffs on pharma imports at Republican dinner – as it happened

This live blog is now closed

International Business Times

China Vows 'Fight To The End' As Trump Warns 50% More Tariffs

China vowed on Tuesday to "fight to the end" against fresh tariffs of 50 percent threatened by US President Donald Trump, further aggravating a trade war that has already wiped trillions off global markets.

Reason

Trump Advisors Struggle To Defend, or Even Explain, His Tariff Strategy

Members of the administration spent the weekend presenting contradictory defenses of Trump's economic policies.

The Guardian - UK

Here’s one key thing you should know about Trump’s shock to the world economy: it could work

It’s hard to say if the president truly knows what he’s doing. But there is a precedent for the US causing short-term chaos and reaping long-term gain, says economist James Meadway

Latin Times

Market Panic Deepens As China Retaliates Against Trump Tariffs

Hong Kong's Hang Seng plunged more than 13 percent, its biggest drop since the 1997 Asian financial crisis, while in Japan the Nikkei 225 index fell an eye-watering 7.8 percent.

The Guardian - US

Trump’s tariffs are ‘teeing up a nationwide recession’, says Chuck Schumer – as it happened

House democratic leaders also condemn tariffs as group backed by Trump allies mount legal challenge to stop tariffs

The Guardian - UK

European markets slump as Trump says ‘you have to take medicine’

US president tells reporters foreign governments will have to pay ‘a lot of money’ to lift levies

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