The Latest Breaking News from Scott Bessent

President has savaged Federal Reserve chair Jerome Powell for not lowering interest rates, but he can’t easily fire him

September S&P 500 E-Mini futures (ESU25) are down -0.34%, and September Nasdaq 100 E-Mini futures (NQU25) are down -0.53% this morning, starting the week on a downbeat note as uncertainty surrounding U.S. tariffs remains elevated ahead of the July 9th deadline to complete trade negotiations.

The US president warned that tariffs would return to their higher rates on 1 August, after the proposed 9 July deadline.

Treasury Secretary Scott Bessent criticized former Treasury Secretary Larry Summers on Monday, calling his recent television comments about Trump’s tax legislation “shockingly callous” and demanding a public apology.

Elon Musk lashed out at U.S. Treasury Secretary Scott Bessent on Sunday, calling him "a Soros stooge" and "a political science major who can't even do math" in a post on X.

Most Asian markets fell Monday as countries fought to hammer out trade deals days before Donald Trump's tariff deadline, though investors took heart after he said the levies would not kick in until the start of next month.

‘The tariffs are going to be the tariffs,’ the president said when asked about when the levies would return to April levels

President Donald Trump on Sunday slammed former ally Elon Musk's launching of a new political party as "ridiculous," after the tech billionaire who once backed the Republican said he wanted to challenge the United States' "one-party system."

He’s built rockets and electric vehicles, but some experts are skeptical as to whether the world’s richest person can successfully build a new political party