28 h. ago Repairing Trump’s tariff ‘damage’ will take time, warns former US Treasury chief

US President Donald Trump’s “badly misguided” tariff policy is impairing the efficiency of America’s economy despite its short-term resilience, and the damage will need to be repaired down the road, according to a former US Treasury secretary. “It’s a very unwise policy, and yet it seems to be the policy they’re committed to,” said Robert Rubin, who administered the Treasury from 1995 to 1999, during the Democratic presidential administration of Bill Clinton. Rubin, 87, was speaking via video...

Events

43 h. ago Ukraine war: US unveils heavy Russia sanctions, says Putin wasn’t ‘honest’

US President Donald Trump has slapped major sanctions on Russia’s two largest oil companies after concluding that Vladimir Putin was not being “honest and forthright” in Ukraine talks, the US treasury chief said on Wednesday. The sanctions came a day after a planned Trump-Putin summit in Budapest was shelved, with Washington expressing its disappointment at the lack of progress in ceasefire negotiations with Moscow. “Given President Putin’s refusal to end this senseless war, Treasury is...

Politics

6 d. ago US Treasury chief to talk with Chinese vice premier on trade issues

US Treasury chief to talk with Chinese vice premier on trade issues  Anadolu Ajansı

Politics

8 d. ago US Treasury chief: Beijing's rare earths move is 'China vs world' | National | dailygazette.com

US Treasury chief: Beijing's rare earths move is 'China vs world' | National | dailygazette.com  The Daily Gazette

Politics

8 d. ago Shutdown costing US economy US$15 billion a day, Treasury chief Bessent says

The two-week-old federal government shutdown is costing the US economy about US$15 billion a day in lost output, Treasury Secretary Scott Bessent said on Wednesday, putting an estimate on its economic toll and urging Democrats to “be heroes” and side with Republicans to end it. Bessent told a news conference that the shutdown was starting to “cut into muscle” of the US economy. “We believe that the shutdown may start costing the US economy up to US$15 billion a day,” he said. The wave of...

Economics

9 d. ago Beijing’s rare earths control is ‘China versus the world’, says US treasury chief

Beijing’s rare earths control is ‘China versus the world’, says US treasury chief  MSN

Politics

9 d. ago US Treasury chief: Beijing's rare earths move is 'China vs world'

US Treasury chief: Beijing's rare earths move is 'China vs world'  Yahoo Finance

Politics

3 w. ago US optimism ahead of trade talks; Jane Goodall tributes: SCMP daily highlights

Catch up on some of SCMP’s biggest China stories of the day. If you would like to see more of our reporting, please consider subscribing. 1. US Treasury chief sees ‘big breakthrough’ ahead in China trade talks US Treasury Secretary Scott Bessent said on Thursday he expects coming talks with China to yield a “big breakthrough” in trade relations, adding that aid for soybean farmers could be announced as soon as Tuesday. 2. New mock Taiwan government buildings spotted at mainland Chinese military...

Politics

3 w. ago US Treasury chief sees ‘big breakthrough’ ahead in China trade talks

US Treasury Secretary Scott Bessent said on Thursday he expects coming talks with China to yield a “big breakthrough” in trade relations, adding that aid for soybean farmers could be announced as soon as Tuesday. Bessent made the upbeat predictions during an interview with CNBC. “The most important thing we’re going to see,” the Treasury chief offered, is a pull-aside meeting between Donald Trump and Xi Jinping at a regional summit in South Korea later this month, adding that his own trade talks...

Politics