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The Latest Breaking News from Scott Bessent

G7 finance ministers vow cooperation to face 'heightened risks'

Global economic leaders met in Paris to tackle instability caused by the Middle East war. They pledged cooperation to manage challenges like energy and food supply disruptions. Discussions also covered tariffs and Russia. The G7 aims for coordinated responses to global economic risks. Leaders will meet again in Evian to…

The Economic Times

G7 finance ministers call for action on trade imbalances as Russia sanctions divide US from allies

Finance ministers from the G7 group of advanced economies were unanimous on the need to take on global trade imbalances, according to the statement released Tuesday following a second day of Paris talks. But the US decision to extend a waiver on sanctions against Russia in the wake of the…

France 24

MAGA Meltdown: Trump Treasury Secretary Denied Entry by Chinese Security in Cringe-Worthy Scene

US Treasury Secretary Scott Bessent was briefly blocked from a state event in China, highlighting tensions during President Trump's diplomatic visit. The incident quickly went viral online.

International Business Times UK

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Bessent grants a 30-day extension for Russian oil in tankers as Iran war squeezes supply

Treasury Secretary Scott Bessent says the U.S. will give a 30-day extension for countries to import Russian oil already in tankers at sea

The Independent UK

US extends sanctions waiver on Russian oil for 30 days, Bessent says

Washington has extended its sanctions waiver for Russian oil cargoes at sea by 30 days. This move aims to help vulnerable nations access Russian oil amidst surging global energy prices. The temporary measure provides additional flexibility to stabilize the crude market. This is the second extension of the waiver, which…

The Economic Times

Make Under $500,000 a Year? Your IRS Audit Risk Is Under 1% — But One Common Mistake Can Change That

IRS audits have decreased significantly, especially for high earners, but taxpayers should still file accurately to avoid scrutiny. The IRS may focus on high-risk cases despite fewer audits.

International Business Times UK

World imbalances trouble G-7 in wake of Trump’s China encounter

Global finance ministers convene in Paris to address lopsided world growth, focusing on structural misalignments after the US-China trade summit. France aims to tackle America's deficits, Europe's low investment, and China's trade surplus. Economists warn of systemic crisis without concerted re-balancing efforts.

The Economic Times

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US Lets Russia Oil Sanctions Waiver End Despite Surging Prices Due To Iran War

The previous waiver was described by US Treasury Secretary Scott Bessent as a measure to stabilize energy markets in the aftermath of the Gulf war.

International Business Times

Iran war: Trump administration allows Russia oil sales waiver to expire despite tight market

The Trump administration let a waiver for Russian oil sales expire. This happened even as the Iran war caused worries about global oil supplies and rising fuel costs. The move ended a short period of eased sanctions on some Russian oil. Countries like India and Indonesia had asked for extensions…

The Economic Times

Demand for longer-term U.S. debt gets weaker as one shock after another stokes fear that high inflation is here to stay

On Wednesday, the Treasury Department sold $25 billion of 30-year bonds at a 5% yield for the first time since 2007.

Fortune

China Has Agreed To Buy U.S. Oil, Trump Says: 'We Have Unlimited Energy'

China has agreed to buy U.S. oil, President Donald Trump said, as a substantial amount of Iranian exports to the Asian giant continue to be blocked by Washington's blockade of the key waterway.

International Business Times

Oil Prices Climb As Strait Of Hormuz Remains Closed, Iran Says It 'Cannot Trust The Americans At All'

Oil prices are rising again on Friday as the Strait of Hormuz remains closed and a top Iranian official said the country "cannot trust the Americans at all."

International Business Times

Panama Canal Emerges as Key Trade Lifeline Amid U.S.-Iran War

The increase in traffic and revenue generated through the auctions suggests revenue growth for the Panama Canal could reach between 10% and 15%, officials say.

International Business Times

As U.S.-Iran War Continues, Strait of Hormuz Closure Drives Surge in Panama Canal Traffic

The increase in traffic and revenue generated through the auctions suggests revenue growth for the Panama Canal could reach between 10% and 15%, officials say.

Latin Times

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Radio France Internationale

Trump hails 'fantastic trade deals' made during talks with China's Xi

President Donald Trump announced he had made "fantastic trade deals" with China's President Xi Jinping, as the pair met on Friday for the final talks of a superpower summit that the US leader said had also secured a Chinese offer to help open the Strait of Hormuz.

The Economic Times

Trump says made 'fantastic trade deals' with Xi

President Donald Trump met with President Xi Jinping in Beijing. They discussed significant trade agreements beneficial to both nations. China offered assistance regarding the Strait of Hormuz. Discussions also touched upon artificial intelligence and oil purchases. The leaders addressed geopolitical flashpoints like Taiwan, aiming to manage differences.

Barchart

BA Stock Watch: Boeing May Get a Big Boost From Trump-Xi Summit

Treasury Secretary Scott Bessent says the Trump-Xi summit may prompt large Boeing orders. But does that warrant buying BA shares at current levels? Let’s find out!

International Business Times

Xi Jinping Tells U.S. CEOs that China Will 'Open Wider' To Business During Trump Visit

Chinese President Xi Jinping told a group of U.S. business leaders as part of Trump's visit to Beijing.

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International Business Times

Trump Says Xi Offered Help To Make a Deal With Iran And 'Would Like To See The Hormuz Strait Open'

President Donald Trump said on Thursday that U.S. counterpart Xi Jinping offered him help to strike a deal with Iran and would "like to see the Hormuz Strait open" as the stalemate between the two countries continues.

The Times of India

Trump says Xi vowed not to arm Iran, offered help to open Hormuz

US President Donald Trump has said that Chinese President Xi Jinping had offered China’s help to reopen the Strait of Hormuz and pledged not to provide military equipment to Iran amid its war with the United States and Israel.

Fortune

Scott Bessent made a billion betting against a faked currency. On China's, the Treasury chief is silent

Bessent has been a currency hawk ever since he worked for George Soros in 1992 and saw something off with the British pound.

The Economic Times

US, China discussing AI 'guardrails': Treasury secretary Bessent

The United States and China were discussing setting up "guardrails" for the use of artificial intelligence (AI), US Treasury Secretary Scott Bessent told CNBC on Thursday, with growing calls for regulation of the burgeoning technology. The Treasury secretary said Washington and Beijing would set up a "protocol" on the path…

The Economic Times

‘Terrible mistake’ if China takes Taiwan by force; US position unchanged: Rubio

US Secretary of State Marco Rubio warned that it would be a “terrible mistake” if China tried to take Taiwan by force, while reiterating that Washington’s position on the island remains unchanged. Earlier, US Treasury Secretary Scott Bessent said President Donald Trump would speak more on Taiwan during his Beijing…

The Independent UK

The Latest: Xi and Trump summit focuses on business links as Chinese leader issues Taiwan warning

Presidents Xi Jinping and Donald Trump have started their high-profile summit in Beijing that is expected to focus on trade but also include the Iran war, technology and Taiwan

The Economic Times

Trump wants China's help on Iran. Beijing may have other ideas

President Trump will ask President Xi for help with the Iran conflict. China is unlikely to fully comply, preferring to maintain its economic and military ties with Iran. The US has limited options to pressure China, as sanctions could lead to costly retaliation. Both nations face complex geopolitical and economic…

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