Scott Bessent
Auto groups lobby Trump administration against parts tariffs in rare unified message
Jamell Harris loads raw casting heads to be manufactured at the Stellantis Dundee Engine Complex on August 18, 2022 in Dundee, Michigan. Bill Pugliano | Getty Images DETROIT – Six of the top policy groups representing the U.S. automotive industry are uncharacteristically joining forces to lobby the Trump administration against 25% tariffs on auto parts […]
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Bessent says he expects ‘de-escalation’ in U.S.-China tariff fight in the ‘very near future’
Treasury Secretary Scott Bessent told investors in a closed-door meeting Tuesday he expects “there will be a de-escalation” in President Donald Trump’s trade war with China in the “very near future,” a person in the room told CNBC. “No one thinks the current status quo is sustainable” with tariff rates at their current levels, Bessent […]
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CNBC Daily Open: Trump’s threat to intervene in Fed could cause upheaval
The Marriner S. Eccles Federal Reserve building in Washington, DC, U.S., on Feb. 27, 2024. Morah Ratner | Bloomberg | Getty Images An independent central bank is seen by most (including this newsletter) as the bedrock of a functional economy. Officials steer the economy by calibrating the benchmark interest rate on which bank loans and […]
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Ukraine says it has signed the outline of a minerals deal with the U.S.
Ukrainian Minister of Economic Development and Trade, Yulia Svyrydenko and the US Secretary of Treasury, Scott Bessent (not seen) sign the outline of a rare earth minerals deal over an online call, in Kyiv, Ukraine on April 17, 2025. Anadolu | Anadolu | Getty Images Ukraine said Thursday that it had signed the basis of […]
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CNBC Daily Open: Euphoria in markets as Trump pauses tariffs — but pauses are temporary
U.S. President Donald Trump speaks, as he signs executive orders and proclamations in the Oval Office at the White House in Washington, D.C., U.S., April 9, 2025. Nathan Howard | Reuters U.S. President Donald Trump has hit the pause button on his heavy “reciprocal” tariffs and swapped them for a universal 10% rate for 90 […]
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Trump announces 90-day tariff pause for at least some countries
U.S. President Donald Trump holds up a chart while speaking during a “Make America Wealthy Again” trade announcement on April 2, 2025 in Washington, DC. Chip Somodevilla | Getty Images News | Getty Images President Donald Trump on Wednesday announced a 90-day pause on the full effect of his new tariffs for at least some […]
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S&P 500 ticks higher even as global trade tensions intensify: Live updates
Washington, DC – March 12 : President Donald J Trump meets with Ireland’s Prime Minister Michael Martin in the Oval Office at the White House on Wednesday, March 12, 2025 in Washington, DC. Jabin Botsford | The Washington Post | Getty Images The S&P 500 inched higher Wednesday, as traders looked for a market bottom […]
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IRS acting commissioner will resign over deal to send immigrants’ tax data to ICE, sources say
Pgiam | Istock | Getty Images WASHINGTON — The acting commissioner of the IRS is resigning over a deal to share immigrants’ tax data with Immigration and Customs Enforcement for the purpose of identifying and deporting people illegally in the U.S., according to two people familiar with the decision. Melanie Krause, who had served as acting head since February, […]
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CNBC Daily Open: Musk slams Navarro as Trump’s 104% tariffs on China are set to take effect
Shipping containers and gantry cranes beyond a fishing boat near the Yangshan Deepwater Port in Shanghai, China, on Wednesday, Dec. 6, 2023. China’s trade figures are scheduled for release on Dec 7. Bloomberg | Bloomberg | Getty Images In just a few hours, Trump tariffs will kick in — which includes a ghastly 104% duty […]
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Dow rebounds 900 points on rising hopes for tariff deals: Live updates
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 8, 2025. Brendan Mcdermid | Reuters Stocks surged Tuesday in a slight reprieve from the tariff market turmoil, on rising hopes the U.S. would reach trade deals to lower the duties over time. The Dow Jones Industrial […]
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