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The Latest Breaking News from Scott Bessent

Elon Musk claims he has launched a new party. Will it work?

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

The Independent UK

Scott Bessent spars with CNN host over whether Trump’s tariffs count as trade deals

Treasury secretary tweaks Elon Musk’s unpopularity while defending Trump’s tariff strategy ahead of looming deadline

The Independent UK

Trump says Musk is ‘off the rails’ and calls his new political party ‘ridiculous’

US president railed against his former adviser online after tech billionaire said he will start and bankroll America party

The Guardian - US

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US Tariffs To Kick In Aug 1 Barring Trade Deals: Treasury Secretary

US tariffs will kick in on August 1 if trading partners from Taiwan to the European Union do not strike deals with Washington, Treasury Secretary Scott Bessent said Sunday.

International Business Times

EU locked in Trump trade talks as ‘Liberation Day’ tariff deadline looms

The US president’s pause on the imposition of his ‘Liberation Day’ tariffs ends on Wednesday

The Independent UK

EU leaders race to secure a deal as deadline looms in Trump trade talks

There are just two days of talks left before the US president’s potentially swingeing tariffs are restored

The Guardian - UK

So big, so beautiful: Fox News ignores the critics and champions Trump’s bill

Rightwing network downplays criticism from economists and says bill is ‘packed with massive, huge, important wins’

The Guardian - US

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Trump says US to start sending tariff rates letters to trading partners

Letters to be sent to countries without a deal in place before end of 90-day pause on 9 July

The Guardian - UK

Stocks Rally as US Payroll Report Encourages Economic Optimism

The S&P 500 Index ($SPX ) (SPY ) on Thursday closed up +0.83%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.77%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.99%. September E-mini S&P futures (ESU25 ) rose +0.77%, and September E-mini Nasdaq futures...

Barchart

Arthur Hayes Shares His 'Stablecoin Play' — And It Isn't Betting On Circle

Arthur Hayes has laid out a detailed case for why the U.S. government, through Treasury Secretary Scott Bessent's policies, is increasingly leaning on stablecoins as a financial tool to help fund growing federal deficits while keeping bond yields contained.

Benzinga

Trump’s tariffs set to cost American employers $83billion, analysis finds

An analysis finds a critical group of U.S. employers would face a direct cost of $82.3 billion from President Donald Trump’s current tariff plans

The Independent UK

Scott Bessent Says Senators Not 'Threatened' By Elon Musk's Words, Bill Advancing Under Trump's Leadership 'More Than Anybody's Checkbook'

Treasury Secretary Scott Bessent commented on the ongoing feud between Tesla Inc. (NASDAQ:TSLA), Elon Musk and President Donald Trump, suggesting that the conflict is unlikely to affect the passing of a significant bill.

Benzinga

Trump Is Slamming Jerome Powell Because He 'Wants A Weaker Dollar,' Says Ed Yardeni: 'Pounding Powell = Pounding The Dollar'

President Donald Trump's relentless criticism of Federal Reserve Chair Jerome Powell is a calculated move to weaken the U.S. dollar, according to Ed Yardeni, president of Yardeni Research.

Benzinga

Deal Or No Deal: What Happens With Trump's July Tariff Deadline?

A week before US President Donald Trump reimposes steep tariffs on dozens of economies, including the EU and Japan, many are still scrambling to reach a deal that would protect them from the worst.

International Business Times

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Benzinga

Scott Bessent On Replacing Powell As Fed Chair: 'I Will Do What The President Wants' — Plays Down Shadow Chair Speculations

On Monday, U.S. Treasury Secretary Scott Bessent responded to a question on whether he was willing to replace Jerome Powell as Federal Reserve chair.

Fortune

This summer will be decisive for the economy and Wall Street

More fiscal sticker shock could send Treasury yields higher and add more pressure on the dollar, which is already down 10% this year, its worst first-half performance in more than 50 years.

We Got This Covered

‘I take exception to the idea that the bill cuts Medicaid’: Treasury Secretary angrily defends bill that cuts Medicaid

I take exception to snatching millions of people's healthcare away.

International Business Times

Canada Rescinds Tax On US Tech Firms In Hopes Of Trump Trade Deal

Canada will rescind taxes impacting US tech firms that had prompted President Donald Trump to retaliate by calling off trade talks, Ottawa said Sunday, adding that negotiations with Washington would resume.

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The Independent UK

Deal with Beijing will speed China's export of minerals to the U.S., treasury secretary says

Washington and Beijing have signed a trade agreement that will make it easier for American firms to obtain magnets and rare earth minerals from China that are critical to manufacturing and microchip production

The Guardian - US

US reaches deal with China to speed up rare-earth shipments, White House says

China confirms details amid efforts to end trade war but reiterates it will continue to approve export permits

Latin Times

Mexican President Sheinbaum Says There Is 'Simply No Proof' That Local Banks Laundered Money For Cartels

Mexican President Claudia Sheinbaum rejected U.S. sanctions against three Mexican banks over money laundering accusations

AAP

Super funds spared billions after US axes 'revenge tax'

The Trump administration says it won't pursue a contentious tax targeting foreign investors after negotiating a withdrawal from a global minimum tax agreement.

Latin Times

U.S. Sanctions Mexican Banks Over Alleged Role in Laundering Cartel Funds, Buying Fentanyl Chemicals

The U.S. Treasury Department has sanctioned three Mexican financial institutions, alleging they were used by drug cartels to launder millions of dollars.

Benzinga

Trump's Fed Chairman Shortlist Is In: What Investors Need To Know

President Donald Trump's shortlist for the next Federal Reserve chair is heating up, fueling bets on deep rate cuts, pressuring the dollar and reigniting concerns over the Fed's long-guarded independence.

The Independent UK

Voices: Who will Trump pick to replace his ‘terrible’ and ‘stupid’ Federal Reserve boss?

COMMENT: For daring to speak out against tariffs and refusing to lower interest rates, Jay Powell has become the president’s public enemy number one. His successor could be announced early out of spite – and there’s one clear contender who’s up to the job, says James Moore

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