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The Latest Breaking News from Scott Bessent

Top economist Larry Summers is highly concerned U.S. Treasuries were trading 'like those of an emerging market nation'

In a wide ranging interview with Fortune, the former Treasury Secretary also says we're already seeing the first signals of a possible recession.

Fortune

Xi calls for fair global governance during meeting with Spain's Sánchez

Tariffs announced last week and than paused by US President Donald Trump could push the European Union to pursue more trade with China, the world's third-largest consumer market after the US and the EU.

Euronews

Inside the bond market’s $800 billion ‘murder mystery’

One of Trump’s head economists said the spike in yields added “urgency” to the decision to pause the president’s reciprocal tariffs.

Fortune

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read the most diverse news in one place.

China raises US tariffs to 125% as Xi invites EU to team up against Trump ‘bullying’

Chinese leader canvasses Spain and other trading partners on how to tackle economic fallout as market turmoil continues

The Guardian - UK

The U.S. is now gearing up for a confrontation with China, which some say was the plan all along

The case for and against the existence of Trump’s Grand Plan.

Fortune

Stock Market Today: Uncertainty Proliferates: Dow Loses 1,014 Points

Weaker-than-expected consumer inflation data wasn't enough to stabilize sentiment during another volatile day for financial markets.

Kiplinger

US budget deficit grows to $1.3 trillion, the second highest six-month level on record

The U.S. budget deficit has grown to more than $1.3 trillion in the first half of the fiscal year

The Independent UK

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Spain's Pedro Sánchez aims for closer trade ties with China amid US tariffs uncertainty

Washington has criticised Spain's outreach to China with Treasury Secretary Scott Bessent saying cosying up to Beijing is like 'cutting your own throat.'

Euronews

America Gained Nothing From Trump's Latest Tariff Stunt

There were no deals. There were no wins. There was no plan.

Reason

Inside Trump’s Oval Office as he called senators during Fox News breaks and world leaders begged to end his tariff plan

The president said he was acting ‘instinctively’ after announcing the surprise 180 on Wednesday. However multiple sources said that the build up to the decision was drawn out over a number of days

The Independent UK

Trump Plans to Terminate IRS Direct File program

Direct File was piloted last year in 12 states and has since expanded to 25. But some wonder whether the program will last under the Trump administration.

Kiplinger

The Latest: S&P 500 falls 2% at the open despite Trump’s tariff pause

U.S. stocks are giving back some of their historic gains from the day before as Wall Street weighs a global trade war that has cooled in temperature but is still threatening the economy

The Independent UK

Trade War With China

Plus: Theories to explain Trump's behavior, the radium girls, university investigations, and more...

Reason

Why did Trump blink on tariffs with 90-day pause? Inside story of how bond market 'fire sale' spooked POTUS

The US President put a 90-day pause on his exorbitant tariffs because investors were ‘getting yippie’ over US Treasury sell-offs

Evening Standard

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The Guardian - UK

Thursday briefing: Trump puts global tariffs on pause – but hikes them for China

In today’s newsletter: White House officials send mixed messages over Trump’s stunning U-turn

Pedestrian.tv

What Trump’s 90-Day Tariff Pause *Actually* Means For Young Aussies

Donald Trump has hit pause on his global tariff spree — for 90 days, at least. But don’t mistake this for a full-on retreat. Think of it more like an intermission in a chaotic play where everyone’s still yelling at each other backstage. Let’s break down why Trump made this…

The Guardian - UK

US markets close with steep losses as Trump tariffs branded ‘worst self-inflicted wound’ by a successful economy – as it happened

Wall Street stocks tumbled again as investors remain jittery while former US treasury chief criticises Trump’s economic policy

International Business Times

Art Of The Deal? How Trump Backed Down On Tariffs

It ended not with a bang, but with US President Donald Trump and two top aides writing a social media post.

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news in one place.

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The Independent UK

Billionaire Trump backer Bill Ackman mercilessly teased after hailing president’s ‘Art of the Deal’ tariffs climbdown

‘Pigeons have better pattern recognition than you do, Bill’

The Independent UK

Fox Business reporter says it’s the ‘White House who capitulated’ on tariffs: ‘Let’s be clear’

‘I want to tell you right now that Donald Trump outsmarted the world,’ Charles Gasparino said. ‘But that's not really what happened here’

Kiplinger

Stock Market Today: Tariff Pause Triggers 3,000-Point Dow Rally

The bond market is sending concerning signals as the Trump administration executes its rapid reordering of global trade relationships.

Fortune

'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.

The National (Scotland)

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…

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