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The Latest Breaking News from Scott Bessent

US-UK trade deal with lower tariffs on cars and steel ‘could be signed this week’

US treasury secretary Scott Bessent said some trade deals could be announced as early as this week

The Independent UK

Stock Index Futures Climb on U.S.-China Trade Talk Optimism, Fed Rate Decision in Focus

June S&P 500 E-Mini futures (ESM25) are up +0.58%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.64% this morning as optimism around U.S.-China trade talks boosted sentiment.

Barchart

Protesters arrested as Columbia calls in New York police to clear Gaza solidarity sit-in – as it happened

Columbia Spectator reports protesters who staged library ‘emergency rally’ blocked from leaving by campus security officers unless they show ID

The Guardian - US

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US and China to hold trade talks in Switzerland

It will be the first in-person discussions between American and Chinese senior officials since US President Donald Trump escalated the tariff war between the two countries.

Euronews

US, China to hold talks in Switzerland amid Trump’s trade war

US Treasury Secretary Scott Bessent says Washington does not wish to decouple from China but wants ‘fair trade’.

Al Jazeera

Asian Stocks Rise As China-US Trade Talks Boost Optimism

Asian equities rose Wednesday after China and the United States said they would hold trade talks at the weekend, fanning optimism that the superpowers can row back eye-watering tariffs that have heightened recession fears.

International Business Times

China chides US over ‘serious negative impact’ of Trump tariffs as trade talks set to begin

China’s vice-premier He Lifeng will meet US treasury secretary Scott Bessent in Switzerland between 9 and 12 May

The Guardian - AU

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Trump officials finally meeting for high-level tariff talks with China representatives

China has warned it won’t ‘sacrifice its principles or global equity’ in any agreement

The Independent UK

China Vows To Defend 'Justice' In Looming Trade Talks With US

China vowed Wednesday to defend "justice" in upcoming trade talks with the United States in Switzerland -- the two sides' first negotiations following President Donald Trump's sweeping tariff rollout that roiled global markets.

International Business Times

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

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

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Fortune

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.

The Guardian - UK

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

International Business Times

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.

Fortune

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.

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Reason

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.

The Guardian - UK

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

Kiplinger

The IRS is in chaos

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

Evening Standard

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…

Reason

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.

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

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