4 h. ago China ‘may exempt some US goods’ from tariffs; British retail sales beat forecasts – business live

Rolling coverage of the latest economic and financial newsRachel Reeves used a brief speech to US investors at the British ambassador’s lavish residence in Washington last night, to acknowledge some of the downsides of globalisation, in a nod to Donald Trump’s stance.As she prepares to meet Treasury secretary Scott Bessent today, Reeves said China’s entry into the global trading system 25 years ago had created “huge benefits in terms of cheaper goods, more innovation and more opportunities to trade”.“They voted for change because they didn’t think that the economy worked well enough for them and their families. They saw the erosion of good jobs that paid a decent wage. They saw industries that once powered their towns disappear. And as elected politicians we have to respond to that”.“Some may say that under this very consequential president we have at the moment, this is a rollercoaster period and therefore a challenge to us all. But we would say that a rollercoaster is fine, as lon...

Economics

41 h. ago Treasury secretary says China tariffs not sustainable as US signals willingness to de

Scott Bessent said the tariffs – 145% on Chinese products and a retaliatory 125% on US products – would have to come down before talks can proceedStock markets rise as Trump backtracks on high China tariffs and firing Fed chairNato secretary general Mark Rutte will visit the US and meet the secretary of state, Marco Rubio, the defense secretary, Pete Hegseth, and the national security adviser, Mike Waltz, according to a media notice shared by the military alliance’s press office.Rutte will visit the US on 24 and 25 April. Continue reading...

Politics

43 h. ago Treasury Secretary Scott Bessent says China has ‘opportunity for a big deal’ with US as trade war appears to cool

The Treasury Secretary says the U.S. and China can work together to ‘rebalance’ their respective economies

Economics

43 h. ago Trump sends the markets wild with promise for 'fair' trade deal with China amid growing uncertainty

Markets rose Wednesday as Trump and his Treasury secretary spoke of the potential of a deal with China amid a trade war, plus the president saying he didn't plan to fire the head of the Fed.

Economics

45 h. ago The Latest: Treasury secretary says trade war with China is not ‘sustainable’

U.S. markets opened with big gains Wednesday amid clear signs of relief after President Donald Trump said he would not attempt to fire the head of the Federal Reserve and Treasury Secretary Scott Bessent said he expects a “de-escalation” from unsustainable tariffs against China in the trade war between the world’s two largest economies

Events

66 h. ago US Treasury secretary says trade war with China is not 'sustainable'

U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown with China is unsustainable and expects a “de-escalation” in the trade war between the world’s two largest economies

Events

66 h. ago US markets rally as Treasury secretary says China trade war is ‘unsustainable’

Scott Bessent tells investors he expects two countries to reach a deal that would end restrictions on flow of goods

Events

2 w. ago Trump officials to appeal court ruling lifting White House ban on Associated Press – US politics live

Court filing reported by Reuters shows White House appealing against judge’s order to restore full access to the AP China’s move to impose 84% retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing, the US treasury secretary, Scott Bessent, said on Wednesday, as he urged China to “come to the table” with the Trump administration.“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said in an interview with Fox Business Network.I can tell you that this escalation is a loser for them, that they have some very smart the economist and the academicians, technocrats within their bureaucracy, and they would be telling the leadership that we do not have the edge here. They are the surplus country that their exports to the US are five times our exports to China. So they can raise their tariffs. But so what?No one wins in a war. But it’...

Politics

2 w. ago Democratic governors hit back at Trump order blocking state climate policies – US politics live

Move directing US attorney general to block laws addressing carbon emissions draws criticism China’s move to impose 84% retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing, the US treasury secretary, Scott Bessent, said on Wednesday, as he urged China to “come to the table” with the Trump administration.“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said in an interview with Fox Business Network.I can tell you that this escalation is a loser for them, that they have some very smart the economist and the academicians, technocrats within their bureaucracy, and they would be telling the leadership that we do not have the edge here. They are the surplus country that their exports to the US are five times our exports to China. So they can raise their tariffs. But so what?No one wins in a war. But it’s proportionality. And ...

Politics

2 w. ago Trump Treasury Secretary Scott Bessent fires back at 'loser' China in all

President Donald Trump said other world leaders are desperate to deals with him as his tariffs come into effect.

Politics