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The Latest Breaking News from Scott Bessent

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

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.

Fortune

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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

The Independent UK

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.

International Business Times

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.

Barchart

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

The Independent UK

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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.

Fortune

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.

Latin 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.

International Business Times

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.

Barchart

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

The Guardian - US

Bessent shouted profanities at a goading Elon Musk in West Wing after Trump told warring pair to ‘have at it’

Bessent repeatedly shouted the profane insult at the Tesla billionaire, who responded by yelling, ‘Say it louder,’ as they brawled within earshot of President Trump.

The Independent UK

G7 Finance Chiefs Begin Talks Under Strain Of Trump Tariffs

G7 finance leaders exchanged pleasantries before tough discussions Wednesday, seeking to restore stability in the face of economic turbulence from US President Donald Trump's punishing tariffs -- and to strengthen support for Ukraine.

International Business Times

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The Independent UK

US sanctions two members of a Mexican drug trafficking group known as the Northeast Cartel

The United States has imposed sanctions on two members of the Mexican drug trafficking organization Cartel del Noreste, the Northeast Cartel, which was formerly known as Los Zetas

International Business Times UK

Donald Trump Tells Walmart and Mattel to 'Eat the Tariffs' Amid Price Hike Warnings

President Trump is clashing with major companies like Walmart and Mattel, accusing them of falsely blaming tariffs for price increases and demanding they absorb the costs.

The Independent UK

Trump's tariffs will test unity among allies at G7 finance ministers' summit

Leading financial officials from the world’s richest countries are gathering in a Canadian mountain resort this week for what may prove a contentious meeting in the wake of President Donald Trump’s sweeping tariffs

International Business Times

G7 Finance Leaders Gather With Ukraine, Tariff Concerns At Fore

Top finance leaders from the G7 nations gather in Canada starting Tuesday, with concerns including war in Ukraine at the fore while the advanced economies grapple with fallout from US President Donald Trump's sweeping tariffs.

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We Got This Covered

Chinese producers will absorb ‘the cost’: Donald Trump contradicts himself on tariffs, as White House press secretary rewrites history

With a well-aimed question, a CBS News correspondent sent the Trump camp into a full-blown economic faceplant.

MarketBeat

Walmart Stock Holds as Tariff Risk Spurs Support

A new tariff world may have spooked Walmart shareholders, though the situation may not be as bad as it seems moving forward in the name.

Barchart

Stocks Set to Open Sharply Lower After U.S. Credit Rating Downgrade, Retail Earnings and Economic Data Awaited

June S&P 500 E-Mini futures (ESM25) are down -1.22%, and June Nasdaq 100 E-Mini futures (NQM25) are down -1.59% this morning as sentiment took a hit after rating agency Moody’s downgraded the United States’ credit rating.

The Guardian - UK

Stock markets and US dollar drop, and bond yields rise, after US credit rating downgrade; EC cuts eurozone growth forecast – as it happened

Long-term US borrowing costs hit 18-month high over 5%, as bond market flashes ‘warning signals’

The Guardian - US

Trump news at a glance: president faces intensifying criticism over Qatar plane gift

Top Democrat condemns ‘flying grift’ as senior Republicans join chorus of disapproval – key US politics stories from Sunday 18 May at a glance

The Independent UK

‘The French gave us the Statue of Liberty’: Trump officials sputter to defend $400m Qatar jet gift

White House officials play ignorant to bribery optics as even Republican members of Congress back away

Latin Times

Treasury Secretary Acknowledges Cost of Tariffs: 'Some May Get Passed on to Consumers'

Treasury Secretary Scott Bessent admitted that some of the cost of Trump's tariffs "may get passed on to consumers."

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