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The Latest Breaking News from Scott Bessent

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

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

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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

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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

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.

Fortune

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 Guardian - UK

Stock Market Today: Dow Jones Gains, Other Indexes Rise; Cathie Wood Loads Up On This Stock Amid 83% Dive (Live Coverage)

The Dow Jones held firm despite China-U.S. trade tensions. Treasury Secretary Bessent spoke on debt. Cathie Wood bought a plunging stock.

Investors Business Daily

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

The Independent UK

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

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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.

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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.

Latin Times

Trump Official Mocked After Failing to Name Next Country Expected to Complete a Trade Deal: 'Translation: We Have No Deals'

A senior Trump administration official is being mocked by social media users online for being unable to identify the next nation the US is expected to complete a trade deal with during a televised interview.

Investors Business Daily

Trump Trade War Or Peace? What You Need To Know Now

The Trump trade war was de-escalating until Friday's Apple and EU tariff threats, but Trump has delayed the EU duties. The stock market faces other risks too.

International Business Times

G7 Finance Chiefs Push For Consensus Despite Trump Tariffs

G7 finance leaders played down their differences Thursday, despite turmoil from US President Donald Trump's wide-ranging tariffs, and sought common ground on Ukraine as talks in Canada entered the final hours.

Barchart

S&P Futures Tick Higher With Focus on U.S. PMI Data and Trump’s Tax Bill

June S&P 500 E-Mini futures (ESM25) are trending up +0.10% this morning, stabilizing after yesterday’s drop, while investors await U.S. business activity data and a potential pre-dawn vote in the U.S. House of Representatives on President Donald Trump’s sweeping tax and spending bill.

The Guardian - US

Trump says he’s ‘seriously considering’ taking Fannie Mae and Freddie Mac public

President says he will speak with advisers about taking public firms that support about 70% of US mortgages

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