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The Latest Breaking News from Scott Bessent

Donald Trump's Global Tariffs Face Collapse as US Supreme Court Questions His Power to Tax the World

The Supreme Court appeared poised to strike down Trump's sweeping global tariffs, with justices across the ideological spectrum questioning his authority. A loss could trigger up to $800 billion in refunds to US companies.

International Business Times UK

Colombian President Petro Slams Trump Over Sanctions: 'Profoundly Rude And An Insult To The Nation'

Colombian President Gustavo Petro again slammed U.S. counterpart Donald Trump over the sanctions against him and his family, saying they are "not only profoundly rude, but an insult to the Colombian nation, a humiliation."

Latin Times

Scott Bessent Calls Elon Musk 'One of The Great Entrepreneurs' of This Generation: Says $1 Trillion Pay Package Is For 'Shareholders To Decide'

Treasury Secretary Scott Bessent praised his former colleague, Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk, while weighing in on his controversial $1 trillion compensation package.

Benzinga

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Echoing Trump's sentiments, America's finance chief Bessent says the most advanced AI GPUs are restricted to home soil - China can have Blackwell chips once they're outdated

The U.S. Secretary of Treasury Scott Bessent has highlighted a potential future where China could get its hands on Nvidia's current-gen flagship AI chips... when they're no longer the current-gen flagships. Washington is considering letting Nvidia sell Blackwell chips to China once they're outdated by at least a year or…

Tom’s Hardware

Even if the Supreme Court rejects Trump’s tariffs, his staff is working on backup plans to keep charging for imports

Several small businesses have sued the president for his sweeping tariffs, claiming they negatively impact business and defy Congress’s authority

The Independent UK

Trump administration will provide half of usual funds to Snap recipients in November

Contingency funds will keep benefits going for nearly 42 million people in the food assistance program, says Trump

The Guardian - US

Milei’s win should lock in financial backing from Trump. But at what cost to Argentinians?

In late October Argentina’s president, Javier Milei, won a decisive victory in the country’s midterm elections. The scale of the result caught most political commentators off-guard. It now gives the president the legislative capacity to push through his much touted programme of labour and tax reforms.

The Conversation

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Scott Bessent Says SNAP Benefits 'Could Be' Restored On Wednesday, As Trump Admin Awaits Legal Clarity

Treasury Secretary Scott Bessent suggested that the Trump administration would need court guidance to disburse emergency funds for the Supplemental Nutrition Assistance Program (SNAP) benefits.

Benzinga

The US government shutdown rattles into a new month as Trump dig his heels in

The government shutdown is set to become the longest ever this week

The Independent UK

"Most important case ever": Supreme Court to decide fate of Trump's tariffs

The consequences of this case will far transcend simple duties on imports.

Axios

Scott Bessent Admits Parts Of US Economy Are In Recession, Says Overall Still In 'Good Shape'

Treasury Secretary Scott Bessent blamed the current state of the economy on Federal Reserve policies and attributed high inflation to high government spending during the COVID era, which the Trump Administration is cutting.

Benzinga

Elizabeth Warren Questions How Trump Argentina Deal Puts 'America First'

Sen. Elizabeth Warren (D-Mass.) on Sunday challenged President Donald Trump's decision to extend a $20 billion currency swap to stabilize Argentina's peso, asking how the move squares with "America First" as a U.S. government shutdown persists and living costs rise.

Benzinga

SNAP benefit delays could mean millions go hungry - despite Americans wasting almost $400 billion of food a year

As SNAP benefits lapse, a startling statistic reveals that the U.S. risks wasting billions of dollars in food every year

The Independent UK

‘That’s harsh’: CNN’s Tapper taken aback by Treasury boss Bessent’s Blue Jays dig after epic World Series Game 7 loss

Scott Bessent poked fun at Ontario Premier Doug Ford after the Blue Jay’s dramatic loss in Game 7 of the World Series

The Independent UK

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Fortune

Bessent points to China’s rare earths restrictions to justify Trump tariffs as Supreme Court to hear arguments about emergency powers

“The president was able to push back using his IEEPA powers. If that’s not use of an emergency power at an emergency time, I don’t know what it is.”

Axios

Bessent says SNAP payments "could be" made this week

It's unclear when millions of families will receive their aid.

Axios

Bessent: U.S. faces broader recession risk without more Fed cuts

The Fed signaled the next rate cut isn't a sure thing

Axios

China has been an "unreliable partner" in many ways, Bessent says

The trade deal isn't even on paper yet, yet both sides are ramping up rhetoric.

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Benzinga

Trump's White House Bathroom Renovation Sparks Fury, Economist Slams 'Clearly Wrong' Inflation Data And More: This Week In Economy

As the week comes to a close, here’s a quick recap of the top stories that dominated the headlines, from the world of politics to the economy and the stock market.

Benzinga

Scott Bessent Uses BTC's 17th Anniversary To Jab Senate Democrats: 'Bitcoin Never Shuts Down...Learn Something'

On Friday, U.S. Treasury Secretary Scott Bessent marked Bitcoin's (CRYPTO: BTC) 17th anniversary with a pointed comparison between the cryptocurrency's reliability and Washington's gridlock, taking a swipe at Senate Democrats for the ongoing government shutdown.

International Business Times

TikTok Sale Moves Forward as China Greenlights Transfer Agreement

China has approved TikTok's U.S. transfer agreement, moving the app closer to a new American ownership.

The Independent UK

China agrees to purchase 25 million metric tons of U.S. soybeans annually, treasury secretary says

Treasury Secretary Scott Bessent says China has agreed to purchase 25 million metric tons of U.S. soybeans annually as part of an agreement reached by its leaders

Axios

China will return U.S. soybean buys to recent annual levels, Bessent says

China cut off purchases earlier this year, depriving U.S. farmers of their largest export market.

Fortune

Trump and Xi Jinping meet at a temporary trade truce just days after China purchased its first U.S. soybeans from this year’s harvest

Quicker negotiations between the two countries ensued after China’s crackdown on rare earths exports, expert says.

Barchart

Stock Index Futures Gain on Nvidia Boost Ahead of Fed Rate Decision and Big Tech Earnings

December S&P 500 E-Mini futures (ESZ25) are up +0.19%, and December Nasdaq 100 E-Mini futures (NQZ25) are up +0.35% this morning, buoyed by ongoing tech and AI momentum, while investors await the Federal Reserve’s interest rate decision and U.S. megacap tech earnings.

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