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The Latest Breaking News from Scott Bessent

Steve Bannon says Trump should launch an investigation into Musk for alleged drug use

Steve Bannon says the Trump administration should investigate Elon Musk and look into his alleged drug abuse.

The Independent UK

FTSE 100 falls short of record closing high; US-China trade talks ‘going well’ as meeting resumes – as it happened

Rolling coverage of the latest economic and financial news, including latest UK labour market report

The Guardian - UK

Bitcoin surges to $108,000 as top US and Chinese officials meet to discuss tariffs

Treasury Secretary Scott Bessent will meet with top Chinese officials in London this week.

Fortune

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White House Doesn't Deny Physical Fight Between Musk And Treasury Secretary Bessent

The White House did not deny a reported physical altercation between former DOGE head Elon Musk and Treasury Secretary Scott Bessent: "I certainly wouldn't describe it as a fistfight," said Karoline Leavitt

Latin Times

What the White House said about claims Musk ‘bodychecked’ Treasury secretary

IN FULL

The Independent UK

US and China are holding trade talks in London after Trump's phone call with Xi

High-level delegations from the United States and China are meeting in London to try and shore up a fragile truce in a trade dispute that has roiled the global economy

The Independent UK

US and China to take second shot at averting trade war in London talks

Senior delegations expected to discuss fragile tariffs deal in bid to avert trade war.

Al Jazeera

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White House press secretary Leavitt plays down Musk ‘fistfight’ reports: ‘It was definitely a disagreement’

‘There have definitely been healthy disagreements amongst the cabinet and Elon Musk,’ Karoline Leavitt said Sunday

The Independent UK

Elon Musk’s father plays down Trump spat in interview with Russian newspaper

Errol Musk says Elon ‘made a mistake’

The Independent UK

House considers Trump cuts as Senate Republicans work on reconciliation bill - Roll Call

As Senate committees continue to work on the reconciliation bill this week, the House plans to vote on Trump's rescissions proposals.

Roll Call

Newsom is warned of ‘criminal tax evasion’ if he withholds federal taxes

California governor made threat amid reports Trump is weighing huge federal funding cuts targeting state

The Guardian - US

Trump proves loyalty isn’t his strong suit, reportedly trash-talking Elon as ‘big time drug addict’

Trump proves loyalty isn't his strong suit .

We Got This Covered

WH: Musk, Bessent row was no "fistfight"

White House Press Secretary Karoline Leavitt said the reported brawl was just a "disagreement"

Salon

Trump sends Bessent and Lutnick to haggle with Chinese on tariff war after Xi chat

News of the talks comes a day after Trump spoke with Chinese leader Xi Jinping

The Independent UK

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Fortune

House Speaker Mike Johnson says Trump is 'not delighted that Elon did a 180' after the pair spent four months working closely together

Donald Trump and Elon Musk have a complex history.

Fortune

Treasury head Scott Bessent says Jamie Dimon should relax about the bond markets: ‘For his entire career he’s made predictions…none of them have come true’

Rising interest rates on U.S. debt seem to back up Dimon’s concern about government spending, but the Treasury secretary says it’s not as bad as it seems.

The Guardian - UK

US firms say Trump trade war is hitting production as dollar nears three-year low

Manufacturing survey signals third monthly decline in output in a row amid uncertainty over tariffs

The Independent UK

China vows ‘forceful measures’ after accusing US of violating tariffs truce

Beijing says it is ‘strictly implementing’ consensus reached in Geneva but US is taking steps that ‘seriously undermine’ it

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Fortune

Dow futures dip as Wall Street weighs likelihood of Trump's latest tariff threat, while U.S. eyes call to resolve China trade snag

The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his 50% steel duty or if he will put it on hold soon.

Fortune

Stocks stay flat after Trump says China ‘totally violated’ trade agreement with U.S.

The U.S. and China had previously agreed to a 90-day pause in which both countries would ratchet down reciprocal tariffs.

The Independent UK

Trump says China ‘totally violated’ tariffs pause deal: ‘So much for Mr. Nice Guy’

Friday Truth Social post also claimed China had been in “grave economic danger” before a deal was reached two weeks ago

International Business Times

Trump Signals Fresh Trade Tensions With China

US President Donald Trump signaled renewed trade tensions with China on Friday, arguing that Beijing had "violated" a deal to de-escalate tariffs, at a time when both sides appeared deadlocked in negotiations.

Barchart

S&P Futures Tick Lower on Renewed Tariff Concerns, U.S. PCE Inflation Data in Focus

June S&P 500 E-Mini futures (ESM25) are trending down -0.17% this morning as investors grappled with fresh uncertainty surrounding U.S. President Donald Trump’s tariff policies and looked ahead to the release of the Federal Reserve’s first-line inflation gauge.

The Independent UK

The UK-US trade deal has been thrown into chaos by Trump tariff ban - where do we go from here?

NEWS ANALYSIS: Had Keir Starmer and his ambassador in the US listened to wiser voices in Washington, they may not have been in such a hurry to get a trade deal based on reducing ‘Liberation Day’ tariffs over the line, writes Political Editor David Maddox

Fortune

U.S. economy will be growing faster than 3% this time next year, predicts Treasury’s Bessent

A combination of pro-growth trade policies, tax cuts, and deregulation will soon lead to a pickup in activity, according to the Trump administration, following a 0.3% annualized contraction in the first quarter.

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