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Treasury Secretary Scott Bessent reiterated his call for reduced energy costs for the third time in a month, though financial markets continue to react unpredictably to his statements.
Donald Trump threatened to double tariffs on Canadian auto imports and proposed a new $100,000 H-1B visa fee, while the U.S. also announced expanded sanctions to isolate Iran under 'Operation Economic Outcast'.
The US Treasury chief stated that any tolls paid to the Persian Gulf Strait Authority would be offset from Iranian accounts, implying that damage to Gulf allies would be paid for with funds extracted from Iranian accounts.
The US Treasury chief has issued a warning that businesses collaborating with Iranian airlines risk facing sanctions, reinforcing the country's economic pressure on Iran.
The US Treasury chief has defended the relief provided for Russian oil sanctions, asserting that the price cap effectively limits Kremlin gains.
US Treasury chief Scott Bessent stated that Donald Trump is expected to implement a new 15% global tariff this week, following a Supreme Court ruling that invalidated his previous country-specific tariffs.
Former US Treasury chief Larry Summers has resigned from his teaching position at Harvard University due to his connections with convicted sex offender Jeffrey Epstein.
The United States military has conducted a fresh wave of strikes against Iranian targets, citing thwarted attacks on American forces and marking a significant escalation in regional tensions. In response, Iranian officials have vowed to abandon previous restraints and retaliate, while Washington has warned of devastating consequences for any counterattack.
Ukrainian President Volodymyr Zelenskyy has returned Poland's highest honor, the Order of the White Eagle, after it was reportedly stripped from him. The move comes amid heightened tensions between the two countries.
US and Iranian officials have reportedly reached a tentative ceasefire deal, but its approval remains uncertain as it awaits a final decision from President Trump. The potential agreement has also influenced oil prices.
US Treasury chief Bessent stated that US economic growth could exceed 3% or 3.5% this year, despite the ongoing conflict involving Iran.
US Treasury Secretary Scott Bessent has reiterated that the United States possesses ample funds to finance the Iran war, even as a $200 billion additional funding request faces stiff opposition in Congress.
The US Treasury chief has stated that a 15% global tariff is likely to be implemented this week.
Former US Treasury Secretary Larry Summers plans to resign from his professorship at Harvard University at the end of the academic year, following his involvement in the Jeffrey Epstein case.
American Treasury Secretary Scott Bessent informed his Russian counterpart that Washington will not lift economic sanctions until the conflict in Ukraine concludes. The firm stance drew objections during a G20 finance ministers' meeting where European officials largely avoided engaging with the Russian delegation.
Former US Treasury secretary Henry Paulson urged Washington and Beijing to manage their escalating strategic competition, warning that deepening distrust poses a greater risk than trade imbalance and could lead to broader conflict.
A US-China summit is testing bilateral ties amidst escalating tensions over Taiwan, trade, and AI technology, with China perceiving the US as a declining power. This occurs as the US also engages in confidential negotiations with Denmark for new military bases in Greenland and faces threats from Iran regarding uranium enrichment if attacked.
The United States has formally resumed operations at its embassy in Caracas, Venezuela, after being closed for seven years, marking a new step in its diplomatic presence and a significant thawing of relations between the two countries, with Secretary of State Marco Rubio hailing progress.
US Treasury Secretary Scott Bessent said that President Donald Trump’s plan to increase a broad 10 per cent tariff rate to 15 per cent is likely to be implemented this week. “That’s likely sometime this week,” Bessent said on Wednesday on CNBC in response to a question about when the increase to 15 per cent would be made. Bessent’s comments offer the clearest indication yet regarding when the US will follow through on Trump’s pledge to raise tariffs. The president last month imposed a 10 per...
A market has emerged for companies to sell claims on tariff refunds, anticipating a Supreme Court decision that struck down many of President Trump's tariffs.