Daniel Flatley

A large wave of refund payments for tariff increases declared illegal by the Supreme Court caused the first widening in the US federal budget deficit since the start of this fiscal year.

A large wave of refunds for tariffs declared illegal by the Supreme Court caused the first widening in the federal deficit since the start of this fiscal year.

The US ramped up economic sanctions on Iran and resumed a military blockade against the country after negotiations between the two nations broke down following renewed attacks in the Strait of Hormuz.

Groups representing victims of Iranian-linked terrorism urged the US not to release any money to Tehran, underscoring the political risks for President Donald Trump of fulfilling a key demand under a possible peace deal.

Treasury Secretary Scott Bessent said the US will carefully examine open source AI models created overseas, including those from China, and take action on any evidence of intellectual property theft from US companies.

Chinese Vice Premier He Lifeng expressed “serious concern” over recent US measures taken against Beijing in a phone call with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer, according to a readout from China’s official Xinhua News Agency.

Treasury Secretary Scott Bessent said he held a call July 30 with Chinese Vice Premier He Lifeng to lay the groundwork for Chinese President Xi Jinping's U.S. visit, a discussion that also touched on numerous flashpoints between the two countries.

(Bloomberg) -- Scott Bessent wanted to help Japan prop up its currency. So he decided to let the media spy on his notepad, where a to-do list included buying as much as $10 billion in yen.

The US Treasury secretary has demonstrated a willingness to adopt unorthodox methods.

Treasury Secretary Scott Bessent’s suggestion of a no-limits approach toward helping Japan rescue the yen risks getting called out by market participants flagging his limited firepower to do the job.