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Scott Bessent

Police & Fire
Top Trump Officials Nearly Come To Blows At Private Dinner, Report Says: 'I'm Gonna Punch You' Top Trump Officials Nearly Come To Blows At Private Dinner, Report Says: 'I'm Gonna Punch You'
Top Trump Officials Nearly Come To Blows At Private Dinner, Report Says: 'I'm Gonna Punch You' A swanky Georgetown soirée meant to celebrate Trump-world’s power players devolved into chaos when two of President Donald Trump’s most senior economic officials nearly came to blows.  The confrontation included a threat to punch a colleague “in the (expletive deleted) face,” according to a new Politico report. The explosive exchange erupted during a private dinner attended by dozens of top officials, including Cabinet members, at Executive Branch, the new ultra-exclusive club for Trump insiders.  The gathering, held on Wednesday, Sept. 3, was meant to mark the club’s inaugural e…

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by Joe Lombardi
Business
Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says
Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says The automaker that builds more cars in the US than any other company says it may actually be hurt more by President Donald Trump's tariffs than foreign manufacturers. Ford said it's at a disadvantage compared to companies based in the European Union, Japan, and South Korea, The Wall Street Journal reported. Trump has set the tariff rate for those nations at 15%, significantly lower than the broad 25% duty on autos and light trucks that began in the spring. The 15% duties are the newest in Trump's rapidly changing tariff policies, with the latest rates going into effect on Friday, Aug. 1. Be…

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by Chris Spiker
Business
Trump Slaps 25% Tariffs On Japan, South Korea As Global Trade Deals Deadline Nears Trump Slaps 25% Tariffs On Japan, South Korea As Global Trade Deals Deadline Nears
Trump Slaps 25% Tariffs On Japan, South Korea As Global Trade Deals Deadline Nears President Donald Trump will impose 25% tariffs on imports from Japan and South Korea, just two days before a pause on his "liberation day" duties is set to expire. Trump released screenshots of letters announcing the new tariffs on his social media platform Truth Social on Monday, July 7. The letters were addressed to Japanese Prime Minister Ishiba Shigeru and South Korean President Lee Jae-myung. Both letters say the US will begin charging the new tariff rate on Thursday, Aug. 1. "Please understand that these Tariffs are necessary to correct the many years of Japan's Tariff, and…

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by Chris Spiker
News
Trump Says US Has Reached Trade Deal With China Trump Says US Has Reached Trade Deal With China
Trump Says US Has Reached Trade Deal With China President Trump has announced that the United States has reached a trade deal with China following two days of intense negotiations in London. "Our deal with China is done, subject to final approval with President Xi and me," Trump posted in all caps on Truth Social Wednesday morning, June 11. "Full magnets, and any necessary rare earths, will be supplied, up front, by China.  "Likewise, we will provide to China what was agreed to, including Chinese students using our colleges and universities (which has always been good with me!) "We are getting a total of 55% tariffs, China is getti…

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by Joe Lombardi
Politics
NPR Sues Trump Over Funding Cuts, Calling Executive Order 'Textbook Retaliation' NPR Sues Trump Over Funding Cuts, Calling Executive Order 'Textbook Retaliation'
NPR Sues Trump Over Funding Cuts, Calling Executive Order 'Textbook Retaliation' National Public Radio is suing President Donald Trump over his executive order to block federal funding from the nonprofit broadcasting company. NPR and three Colorado radio stations filed the lawsuit on Tuesday, May 27. The group accused Trump of "textbook retaliation" for news coverage he dislikes. The suit claims Trump's executive order is unconstitutional and undermines Congress' power to control federal spending. "The order targets NPR and PBS expressly because, in the President's view, their news and other content is not 'fair, accurate, or unbiased,'" the suit said.&n…

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by Chris Spiker
Business
US, China Cut Tariffs In 'Substantial De-Escalation' Of Trump's Trade War US, China Cut Tariffs In 'Substantial De-Escalation' Of Trump's Trade War
US, China Cut Tariffs In 'Substantial De-Escalation' Of Trump's Trade War The US and China are stepping back from extremely high retaliatory tariffs placed on each other, lowering the duty rates to ease tensions and negotiate a potential trade deal. The White House announced the tariff-lowering agreement on Monday, May 12. Both countries will reduce their tariffs to a baseline 10% rate, with the US continuing to impose its 20% tariff on China related to fentanyl. The drastic reduction comes after President Donald Trump dramatically raised tariffs on Chinese imports to a combined 145%, causing Beijing to retaliate with a 125% tariff on US goods. The agreement also…

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by Chris Spiker
Politics
Trump Declares 'Total Reset' After Trade Talks With China Trump Declares 'Total Reset' After Trade Talks With China
Trump Declares 'Total Reset' After Trade Talks With China President Donald Trump hailed significant advancements in trade negotiations with China, describing the discussions over the last couple of days as a “total reset” following weeks of escalating tensions between the world’s two largest economies. While specifics about the progress were not disclosed by Trump or US Treasury Secretary Scott Bessent, who is leading the discussions in Geneva, Switzerland, the talks are ongoing. In a post on Truth Social early Sunday, May 11, Trump said: “A very good meeting today with China, in Switzerland. Many things discussed, much agreed to. A total reset ne…

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by Joe Lombardi
Business
US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It
US, UK Unveil New Agreement In Trump's First Post-Tariff Trade Deal: Here's What's In It The United States and the United Kingdom have announced a trade agreement, the first deal since President Donald Trump announced sweeping tariffs that have shaken the US economy. Trump unveiled the outline of the new trade deal in the Oval Office on Thursday, May 8. The agreement keeps the original 10% baseline tariff that Trump imposed on the UK during his "liberation day" announcement nearly a month ago. A chart posted by Trump on his social media platform Truth Social claimed that the US-UK deal will bring in $6 billion in tariff revenue and $5 billion in new market access. "Today'…

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by Chris Spiker
Business
Jim Cramer Fears ‘Black Monday’ As Markets Tumble After Trump's Tariff Rollout Jim Cramer Fears ‘Black Monday’ As Markets Tumble After Trump's Tariff Rollout
Jim Cramer Fears ‘Black Monday’ As Markets Tumble After Trump's Tariff Rollout It was a brutal week for investors, who lost nearly $7 trillion after President Donald Trump announced sweeping tariffs on nearly every country, and CNBC's Jim Cramer warned that the pain may not be over. The "Mad Money" host said he fears stock prices may continue to fall on Monday, April 7, adding that investors could be facing a repeat of one of the market’s worst days. Related: Mexico And Canada Promise More Tariffs Coming For US If the president doesn’t try to reach out and reward these countries and companies that play by the rules, then the 1987 scenario ... the one where we went …

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by Josh Lanier
Politics
Trump Strikes Deal With Ukraine For Rare Earth Minerals Trump Strikes Deal With Ukraine For Rare Earth Minerals
Trump Strikes Deal With Ukraine For Rare Earth Minerals The Trump Administration has successfully negotiated an agreement with Ukraine regarding the development of the nation’s rare earth mineral resources.  The move is anticipated to strengthen diplomatic ties and pave the way for a long-term US security commitment amid Ukraine’s ongoing, three-year-old war with Russia. It's also seen as a form of reimbursement for the hundreds of billions of dollars of assistance and weapons the United States has provided to Ukraine. This significant development was initially reported by Ukrainska Pravda and the Financial Times late Tuesday afternoo…

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by Joe Lombardi
Politics
Trump Wants US Treasury To Stop Making Pennies: Here's Why Trump Wants US Treasury To Stop Making Pennies: Here's Why
Trump Wants US Treasury To Stop Making Pennies: Here's Why President Donald Trump is calling for an end to the production of pennies, arguing that the cost of minting them far exceeds their actual value.  As he departed the Super Bowl in New Orleans on Sunday night, Trump took to Truth Social to announce his directive to halt penny production, calling it a "wasteful" government expense. "For far too long the United States has minted pennies which literally cost us more than 2 cents," Trump wrote. "Let's rip the waste out of our great nations budget, even if it's a penny at a time." The financial burden of the penny has long been debated. Acco…

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by Joe Lombardi
Politics
Elon Musk Lieutenants Given Access To US Treasury Department’s Payments System: Report Elon Musk Lieutenants Given Access To US Treasury Department’s Payments System: Report
Elon Musk Lieutenants Given Access To US Treasury Department’s Payments System: Report Representatives from a team led by billionaire businessman and political activist Elon Musk have been granted access to the US Treasury Department’s payments system, a move that could significantly impact federal spending oversight, according to a new report. Treasury Secretary Scott Bessent authorized the change late Friday, Jan. 31, giving Musk’s Department of Government Efficiency (DOGE) team access to the federal payment system, which manages disbursements for the entire US government, The New York Times says.  The decision follows a standoff with David Lebryk, a longtime Treasury …

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by Joe Lombardi