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The Latest Breaking News from Scott Bessent

Chinese PM writes to Japan stressing need to jointly fight Trump’s tariffs

China has reportedly urged Japan for a coordinated response to tariffs imposed on both nations by US president Donald Trump.

The Independent UK

UK private sector shrinks as export orders slump; state borrowing nearly £15bn above official forecast – as it happened

Gloomy business surveys for UK, Europe and US show tariffs starting to take their toll but stocks, dollar rally on hopes of US-China trade deal

The Guardian - UK

Markets rebound as Trump signals cutting China tariffs 'substantially'

Global stock markets experienced a relief rally after US Treasury Secretary Scott Bessent indicated that high tariffs were not sustainable, raising hopes for a de-escalation in the US–China trade war. President Trump confirmed the stance and signalled that tariffs on China would be cut.

Euronews

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Trump Says Won't Fire Fed Chief, Signals China Tariffs Will Come Down

Donald Trump said Tuesday he had no intention of firing the chair of the US Federal Reserve and signalled a "substantial" lowering of tariffs on China -- moves that brought relief to global markets spooked by his aggressive policies.

International Business Times

Trump backs off threat to fire Fed Chair Powell, as stock market surges

Wall Street rallies after US Treasury Secretary says trade war with China ‘unsustainable’.

Al Jazeera

Trump news at a glance: president will be ‘very nice’ to China; Musk to step back from Doge

Donald Trump says tariffs on China will be dropped “substantially” as IMF warns of ‘major negative shock’ from tariffs – key US politics stories from 22 April

The Guardian - US

Trump says China tariffs will drop ‘substantially – but it won’t be zero’

US president says tariffs on imported goods will come down from 145% rate but insists ‘we’re doing fine with China’

The Guardian - UK

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Trump, Bessent hint at tariff cooldown

Trump administration officials have changed their tune on tariffs as new forecasts predict dark days ahead

Salon

Stock market rallies after closed-door remarks by Treasury Secretary Bessent

The S&P 500 climbed 2.5% after a broad market selloff on Monday.

Fortune

Stock Market Today: Stocks Soar on China Trade Talk Hopes

Treasury Secretary Bessent said current U.S.-China trade relations are unsustainable and signaled hopes for negotiations.

Kiplinger

US Treasury Chief Expects China Tariff Impasse To De-escalate

The trade standoff between Washington and Beijing is not sustainable, US Treasury Scott Bessent said Tuesday, predicting the tit-for-tat tariff war would de-escalate soon.

International Business Times

US Treasury secretary says trade war with China is not 'sustainable'

U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown with China is unsustainable and expects a “de-escalation” in the trade war between the world’s two largest economies

The Independent UK

UK manufacturers to cut jobs ‘within weeks unless ministers can strike trade deal’

Bosses from automotive, manufacturing and energy warned MPs about effect of Trump tariffs

The Guardian - UK

Markets Soar As Treasury Secretary Reportedly Says Tariff Standoff With China Is Unsustainable And Set To De-Escalate

Markets are soaring after Bloomberg reported on Tuesday that Treasury Secretary Scott Bessent said the tariff standoff with China is unsustainable

Latin Times

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The Independent UK

UK economic growth forecast slashed as Trump’s tariffs hit Britain harder than Europe

The downgrade to Britain’s growth forecasts heightens the importance of Rachel Reeves securing a trade deal for the UK

The Independent UK

Gloomy economic forecast piles pressure on Reeves to secure trade deal with Trump

NEWS ANALYSIS: IMF downgrade lays bare the impact of Trump’s tariffs, with experts warning there could be more pain to come unless chancellor can secure a US-UK trade deal. Kate Devlin reports

Fortune

Trump had a ‘test case’ for trade negotiations with Japan. The failure to reach a deal now has analysts wondering if any will be signed

Trump’s team had hoped for some quick wins when it came to tariff negotiations. That’s looking increasingly unlikely.

Fortune

Even fellow critics of the Federal Reserve want Trump to back off Powell as stocks and the dollar both slide

When politics interferes with the central bank’s ability to set monetary policy, inflation tends to be the result.

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news in one place.

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The Independent UK

Musk wants to leave politics because he’s tired of ‘attacks’ from the left, report says

Speculation of Tesla CEO’s possible departure comes as his influence in the administration appears to wane

The Guardian - UK

Another crisis, another IMF summit: but unlike 2008, the delegates are disunited

Where once the world came together to fight the credit crunch, Trump’s tariffs will set a more divisive test

Salon

DOGE's cuts may encourage tax cheats

New IRS numbers show fewer people are filing their taxes after DOGE took an ax to the agency's workforce

Latin Times

Musk-Appointed IRS Leader Doesn't Last a Week After Treasury Secretary Claims He Was Instated Without His Approval: Report

The IRS went through another leadership shuffle on Friday with Trump replacing Musk-appointed acting commissioner Gary Shapley after just a few days on the job.

Fortune

The IRS interim commissioner was just ousted after Scott Bessent reportedly fussed to Trump that Elon Musk installed the leader behind his back

Gary Shapley was named the new agency leader on Tuesday.

The Guardian - UK

Reeves to make case for trade deal in first meeting with US treasury secretary

Chancellor will push for deal that protects British car, steel and pharmaceutical industries amid tariff uncertainty

The Guardian - UK

Trump threatens to abandon Ukraine peace efforts unless deal reached ‘very shortly’

President says US may ‘take a pass’ on brokering agreement as Kyiv signs minerals memorandum

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