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The Latest Breaking News from Scott Bessent

From Oval Office blowout to landmark minerals deal, how Ukraine's diplomacy unfolded

The road to the U.S.-Ukraine minerals agreement was paved with challenges

The Independent UK

OpenAI wants to sell 'democratic AI' to the world—and potentially increase its soft power globally

OpenAI’s Stargate seeks to export ‘democratic AI’—but will it also help the company secure more soft power on the global stage?

Fortune

Stock Market Today: Stocks Rise Despite Stagflation Risk

The business of business continues apace on continuing hope for reduced trade-related uncertainty.

Kiplinger

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‘You were much better at the Electric Slide’ Bessent reveals to Waters they partied together years ago

Scott Bessent surprised Rep. Maxine Waters during a House committee hearing with the revelation that they had partied together years before in the Bahamas.

The Independent UK

Trump Admin Sidesteps Congress by Calling Trade Deficit a National Emergency, Dem Lawmaker Says: 'It Hasn't Been for Four Decades'

Rep. Gregory Meeks (D-NY) criticized Scott Bessent for claiming that long-standing trade deficits constitute a "national emergency" and bypassing Congress.

Latin Times

Goldman Sachs expects China tariffs to drop soon. But the bank still puts the chance of a recession at 45%

Although “the mood music with China has improved,” the bank’s chief economist still expects other tariffs increases—and sees “a meaningful risk that some of the paused ‘reciprocal’ tariffs will take effect after all.”

Fortune

Colbert on Trump administration’s ethos: ‘Take full responsibility and dump it on somebody else’

Late-night hosts discuss Newark airport chaos, Trump’s foreign movie tariffs and Canadian PM’s White House visit

The Guardian - US

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U.S.-China trade talk news boosts markets

Major Asian markets in China, Japan and South Korea all rose—but by less than 1%. Investors seem to be betting that the Papal Conclave will produce results before the trade negotiations do.

Fortune

US-UK trade deal with lower tariffs on cars and steel ‘could be signed this week’

US treasury secretary Scott Bessent said some trade deals could be announced as early as this week

The Independent UK

Stock Index Futures Climb on U.S.-China Trade Talk Optimism, Fed Rate Decision in Focus

June S&P 500 E-Mini futures (ESM25) are up +0.58%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.64% this morning as optimism around U.S.-China trade talks boosted sentiment.

Barchart

Protesters arrested as Columbia calls in New York police to clear Gaza solidarity sit-in – as it happened

Columbia Spectator reports protesters who staged library ‘emergency rally’ blocked from leaving by campus security officers unless they show ID

The Guardian - US

US and China to hold trade talks in Switzerland

It will be the first in-person discussions between American and Chinese senior officials since US President Donald Trump escalated the tariff war between the two countries.

Euronews

US, China to hold talks in Switzerland amid Trump’s trade war

US Treasury Secretary Scott Bessent says Washington does not wish to decouple from China but wants ‘fair trade’.

Al Jazeera

Asian Stocks Rise As China-US Trade Talks Boost Optimism

Asian equities rose Wednesday after China and the United States said they would hold trade talks at the weekend, fanning optimism that the superpowers can row back eye-watering tariffs that have heightened recession fears.

International Business Times

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The Guardian - AU

China chides US over ‘serious negative impact’ of Trump tariffs as trade talks set to begin

China’s vice-premier He Lifeng will meet US treasury secretary Scott Bessent in Switzerland between 9 and 12 May

The Independent UK

Trump officials finally meeting for high-level tariff talks with China representatives

China has warned it won’t ‘sacrifice its principles or global equity’ in any agreement

International Business Times

China Vows To Defend 'Justice' In Looming Trade Talks With US

China vowed Wednesday to defend "justice" in upcoming trade talks with the United States in Switzerland -- the two sides' first negotiations following President Donald Trump's sweeping tariff rollout that roiled global markets.

Fortune

Stocks fall as Trump administration waffles on trade deals

Trump downplayed progress on Tuesday as investors await the Federal Reserve.

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Latin Times

Treasury Secretary Falters as Democratic Lawmaker Asks Who Pays Tariffs: 'It's a Very Complicated Question'

Rep. Mark Pocan (D-WI) was clearly unsatisfied with the stumbling response from Treasury Secretary Scott Bessent when asked who pays tariffs.

Latin Times

Treasury Secretary Mocked for Proposing to Raise the Debt Ceiling Without Using 'Any Gimmicks': 'Printing Money IS the Gimmick'

Despite warnings that the U.S. could run out of money by July, Scott Bessent insisted the country will not default on its debts during a hearing on Tuesday.

Fortune

RSM chief economist: 'Recession will start on the docks of Los Angeles'

“The price of those policies will be first paid at the ports and then spread to the rest of the economy,” RSM’s Joseph Brusuelas wrote, referring to the president’s tariff and trade policies.

International Business Times

No Signs Of US Recession, Treasury Secretary Says

There are currently no signs that the United States has entered a recession despite the world's largest economy recording a contraction in the first quarter, the US Treasury Secretary said Tuesday.

Fortune

What Treasury Secretary Scott Bessent said at the Milken event (and how his critics responded)

Also: Trump’s movie tax will lead to fewer and more expensive films, experts said; non-profit retains control of OpenAI.

The Guardian - UK

UK business activity falls for the first time since October 2023; US trade deficit hits record; FTSE 100’s record run continues – as it happened

Rolling coverage of the latest economic and financial news

International Business Times

Dollar Recovers Some Losses, Stocks Gain As Traders Eye Tariff Deals

The dollar rose in Asia on Tuesday fuelled by hopes for trade deals to avert Donald Trump's sweeping tariffs, while equities mostly rose as investors await the Federal Reserve's latest policy decision.

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