The Latest Breaking News from Scott Bessent

The FTSE 100 index closed down 16.38 points, 0.2%, at 8,806.53.

US president posted copies of letters addressed to leaders of both countries on social media, stoking further confusion

President has savaged Federal Reserve chair Jerome Powell for not lowering interest rates, but he can’t easily fire him

September S&P 500 E-Mini futures (ESU25) are down -0.34%, and September Nasdaq 100 E-Mini futures (NQU25) are down -0.53% this morning, starting the week on a downbeat note as uncertainty surrounding U.S. tariffs remains elevated ahead of the July 9th deadline to complete trade negotiations.

Treasury Secretary Scott Bessent has cautioned that countries failing to negotiate a deal with the U.S. will face a return to higher tariff rates from August 1.

President says team will start sending trade partners letters with new tariff rates ahead of this week’s original 90-day deadline to make deal

US trade partners are racing to negotiate deals to avoid being slapped with steep tariffs from this week.

Macro strategist Craig Shapiro delivered a scathing critique of Fed Chair Jerome Powell’s performance over the years, pushing back against the growing narrative that casts his tenure in a positive light.

The US president warned that tariffs would return to their higher rates on 1 August, after the proposed 9 July deadline.