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The Latest Breaking News from Scott Bessent

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.

AAP

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.

Latin Times

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.

Benzinga

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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

The Independent UK

US-China Trade Deal Could Be Finalized Next Week, Says Harvard Scholar: 'They Are Going To Stabilize This'

A Harvard scholar has suggested that the United States and China are on the verge of finalizing a trade deal, with the potential for an agreement as soon as next week.

Benzinga

Jalisco Cartel Leader 'El Mencho' Slapped With Sanctions For Role In Drug Trafficking And Killings

"CJNG's reign of terror across Mexico and its trafficking of fentanyl into the United States has destroyed countless innocent lives," said Treasury Secretary Scott Bessent when announcing sanctions

Latin Times

‘Ninja’ Scott Bessent says Elon Musk fancies himself as ‘a viking’ as he tries to downplay their feud

Treasury secretary and former head of DOGE clashed in West Wing in April within earshot of Donald Trump in Oval Office

The Independent UK

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Treasury Secretary Bessent Reacts To Reported Fight With Musk, Says He's 'More of a Ninja' While Comparing Elon To a 'Viking'

Treasury Secretary Scott Bessent addressed the fight with Elon Musk, which at one point got physical, according to reports

Latin Times

Who Will Replace Jerome Powell as Fed Chair?

Buzz is building that President Trump could announce Fed Chair Powell's replacement sooner rather than later, even though his term doesn't end until next year.

Kiplinger

The deadline approaches for Trump’s ‘90 deals in 90 days.’ So far he has ‘frameworks’ for two

President Donald Trump’s sweeping ‘Liberation Day’ tariffs that he ushered in on April 2 are set to go into effect in less than a month

The Independent UK

President Trump says he’ll set unilateral tariff rates within weeks

The president said that he would set country-specific rates in less than two weeks — after reaching a tariff deal with China.

Euronews

London stocks climb higher after ‘watershed’ spending review

The FTSE 100 index closed up 11.27 points, 0.1%, at 8,864.35.

Evening Standard

Bessent, House Democrats spar over budget package's debt boost - Roll Call

Democrats questioned Treasury Secretary Scott Bessent over the effect of Republicans’ “big, beautiful” reconciliation bill on the debt.

Roll Call

US and China strike a deal on trade framework after talks in London

The London talks are the latest in the two countries’ joint efforts to find a middle ground to resolve a trade dispute which threatens to plunge the world into recession and economic instability.

Euronews

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The Independent UK

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 Guardian - 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

Fortune

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.

Latin Times

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

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The Independent UK

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

Al Jazeera

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.

The Independent UK

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’

Roll Call

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.

The Guardian - US

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

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