Scott Bessent

The Trump administration’s replacement tariff will generate only a fraction of the revenue lost after the Supreme Court struck down most of its 2025 levies, according to a new analysis, leaving the federal government staring at a potential $1.7 trillion hole over the next decade. After the...

A group of 24 states has initiated legal action against the Trump administration, challenging the legitimacy of a newly enforced 10% global tariff under Section 122 of the Trade Act of 1974. The lawsuit was lodged at the Court of International Trade, New York, on Thursday. The Democrat-ruled states...

Treasury Secretary Scott Bessent is betting billions that financial engineering can cool an overheating energy market, but analysts warn his “paper” intervention may trigger a chaotic “whipsaw” for global investors. The Macro Gamble As the conflict with Iran paralyzes the...

A GOP lawmaker from Michigan has urged Treasury Secretary Scott Bessent to scrutinize Chinese companies gaining access to the U.S. auto market. Scrutinize Malign Foreign Investments In a letter to Bessent on Thursday, Rep. John Moolenar (R-MI) urged the Treasury Secretary to exercise "heightened...

JP Morgan analysts have warned that the ongoing closure of the Strait of Hormuz could significantly reduce crude oil supplies from Iraq and Kuwait within days. Analysts, as cited by Reuters, predicted that the ongoing Middle East conflict could lead to a cut of 3.3 million barrels per day (bpd) by...

Republican senators Ted Cruz (R-TX) and Tim Scott (R-SC) are reportedly advocating for a $200 billion tax cut that would not require congressional approval, as the GOP seeks to boost its economic standing ahead of the midterm elections. The senators plan to send a letter to Treasury Secretary Scott...

It’s been a turbulent week in the world of global trade. From President Donald Trump‘s tariff battles to a potential AI crisis, here’s a quick recap of the week’s top stories. Peter Schiff Disputes Trump’s Tariff Strategy Renowned economist Peter Schiff criticized the...

Treasury Secretary Scott Bessent refused to commit to issuing $134 billion in potential tariff refunds during a post-State of the Union interview, instead framing corporate demands for repayment as a form of government handout. The Refund Standoff Following President Donald Trump's 2026 State of...

The Supreme Court's decision to invalidate key Trump-era tariffs may not translate into lower prices at the checkout counter, according to Goldman Sachs economists. Supreme Court Blocks Tariffs Under Emergency Powers On Friday, in a 6-3 ruling, the Supreme Court struck down tariffs imposed under...

Treasury Secretary Scott Bessent said Friday the Trump administration expects U.S. tariff revenue to remain "virtually unchanged" in 2026, even after the Supreme Court struck down President Donald Trump's sweeping “reciprocal” import duties. The ruling invalidated billions of dollars...

When Bitcoin (CRYPTO: BTC) hit the panic tape, Jim Cramer hit the TV. That's the problem. On Friday, Bitcoin slid to $60,000 — down 52% from its October peak with more than $1.2 trillion in value wiped out. Within hours, Cramer went on CNBC and urged viewers to "cover," claiming — without evidence...

Over a hundred million people are set to tune into Super Bowl LX to catch the NFL championship game between the Seattle Seahawks and New England Patriots. Super Bowl commercials will also be a reason for people tuning in and some parents could learn about Trump Accounts for the first time. Trump...

Billionaire investor Bill Ackman thanked President Donald Trump on X on Wednesday for making Trump Accounts a reality. Ackman Lauds Initiative Ackman, in a series of X posts, lauded the Trump Accounts, which aim to provide every newborn American with a stake in capitalism. Ackman, who endorsed...

Treasury Secretary Scott Bessent on Wednesday discussed how the newly introduced “Trump Accounts” could serve as “a rainy day fund” for the children when they reach adulthood. Bessent Dismisses Wealth Gap Concerns Critics have warned that Trump Accounts could widen the U.S...

Wall Street posted modest gains on Wednesday, while gold extended its relentless rally, shattering records above $5,300 an ounce ahead of the Federal Open Market Committee meeting. The yellow metal is now up more than 22% this month, putting it on track for its strongest monthly performance since...