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The Latest Breaking News from Scott Bessent

Here’s what stopped Trump in his quest to oust Fed chair Jerome Powell

The Trump administration has also signaled its trade war with China may be letting up soon

The Independent UK

Trump Seeks 'Fair Deal' With China But Pathway Unclear

US President Donald Trump on Wednesday played up prospects of a "fair deal" on trade with China, but his top officials offered few details of how Washington might de-escalate its damaging tariff war with Beijing.

International Business Times

Stocks rebound for second consecutive day as the White House signals even more strongly it wants to make nice on tariffs

Stock indexes and the U.S. dollar rose, as investors got hints of a long-sought détente in America’s trade wars.

Fortune

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Elon Musk and Scott Bessent had a ‘very loud’ shouting match in the West Wing: ‘two billionaire, middle-aged men thinking it was WWE’

The two billionaires have a testy relationship dating back to the post-election transition period

The Independent UK

Musk Reportedly Engaged In New Shouting Match With Top Trump Cabinet Member: 'It Was Quite a Scene'

Elon Musk reportedly engaged in a loud confrontation with Treasury Secretary Scott Bessent in the White House, Axios reported

Latin Times

Scott Bessent says the World Bank and IMF need a total overhaul: 'Mission creep has knocked these institutions off course'

Treasury Secretary Scott Bessent, in remarks to the Institute of International Finance on Wednesday, said the two agencies are falling short.

Fortune

US ‘keen to do a deal’, says Chancellor ahead of trade talks

Rachel Reeves has travelled to the US capital for the International Monetary Fund’s spring meetings of G7 and G20 finance ministers.

The Independent UK

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US ‘keen to do a deal’, says Rachel Reeves as she outlines red lines ahead of trade talks

Chancellor expected to meet US Treasury secretary Scott Bessent on Friday in an attempt to make progress on negotiations for a UK-US economic deal

Evening Standard

US Treasury Chief Says IMF, World Bank Must Be 'Fit For Purpose'

The International Monetary Fund and the World Bank "must be made fit for purpose again," US Treasury Secretary Scott Bessent said Wednesday, arguing the institutions should be promoting economic growth instead of social issues.

International Business Times

Rachel Reeves dashes hopes of early breakthrough in UK-US trade deal

Chancellor says UK is ‘not going to rush a deal’ and rejects new US demands on agricultural products

The Guardian - UK

Reeves signals UK could lower tariffs on US car imports in bid to secure Trump trade deal

The chancellor is in Washington DC as pressure mounts over dire IMF predictions of the effect on Britain’s economy if Trump goes ahead with his tariffs

The Independent UK

Stock markets rise as Trump backtracks on high China tariffs and firing Fed chair

Weeks of tough talk from the US president, who now says he will be ‘very nice’ to China, had rattled investors

The Guardian - US

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

The Independent UK

Scott Bessent says China must move away from export overcapacity and American overreliance: 'Everyone knows it needs to change'

Treasury Secretary Scott Bessent, in remarks to the Institute of International Finance on Wednesday, said, “America first does not mean America alone,” sharing that more than 100 countries have come to the table to talk trade deals.

Fortune

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MarketBeat

Qualcomm’s Range Narrows Ahead of Earnings as Bulls Step In

Qualcomm continues to climb into earnings, with a tightening range and analyst support pointing to bullish momentum at just the right time.

The Independent UK

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…

Fortune

‘Don’t fight the Oval Office’: Investors are finally taking Trump seriously, and it’s causing a volatility spike

Volatility has plagued stocks in recent months, and major indexes are down since Trump’s election in November.

Latin Times

China Says 'Door Open' To Trade Talks After Trump Signals Tariffs Will Fall

Bringing further relief to global markets spooked by his aggressive trade policies, Trump also said on Tuesday he had no intention of firing US Federal Reserve Chair Jerome Powell.

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news in one place.

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The Guardian - UK

First Thing: US lawmakers decry ‘national disgrace’ of student detentions on visit to Ice jails

Delegation reports poor conditions. Plus, Musk says he will step back slightly from Doge after Tesla profits slide 71%

Fortune

Global markets rally after Trump walks back Powell attacks and Bessent looks for China 'de-escalation'

Investor optimism built off Bessent's remarks went into overdrive after President Donald Trump told reporters in the Oval Office that he had "no intention" of firing Fed Chair Jerome Powell.

Barchart

Stocks Set to Extend Rally on Fed Reprieve and Trade Optimism, U.S. PMI Data and Earnings in Focus

June S&P 500 E-Mini futures (ESM25) are up +2.01%, and June Nasdaq 100 E-Mini futures (NQM25) are up +2.51% this morning, extending yesterday’s rally as sentiment got a boost after the Trump administration’s move to alleviate some of the tensions unsettling investors.

The Guardian - US

Trump says US education is getting out of DEI ‘after being in that jungle for a long time’ – as it happened

Executive orders crack down on DEI at US universities but seek to increase affordability and retention at Black colleges. This blog is now closed.

The Independent UK

Chinese PM writes to Japan stressing need to jointly fight Trump’s tariffs

China has reportedly urged Japan for a coordinated response to tariffs imposed on both nations by US president Donald Trump.

The Guardian - UK

UK private sector shrinks as export orders slump; state borrowing nearly £15bn above official forecast – as it happened

Gloomy business surveys for UK, Europe and US show tariffs starting to take their toll but stocks, dollar rally on hopes of US-China trade deal

Euronews

Markets rebound as Trump signals cutting China tariffs 'substantially'

Global stock markets experienced a relief rally after US Treasury Secretary Scott Bessent indicated that high tariffs were not sustainable, raising hopes for a de-escalation in the US–China trade war. President Trump confirmed the stance and signalled that tariffs on China would be cut.

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