Page 2 - Us Treasury

US Treasury chief dismisses Moody's downgrade amid Trump tax cut debate

"I don't put much credence in the Moody's" downgrade, Bessent told CNN's "State of the Union" program

US, China make 'substantial progress' on deal to cut trade deficit

Bessent told reporters that details would be announced on Monday and that U.S. President Donald Trump was fully aware of the results of the "productive talks.''

US, China begin tariff talks in Geneva amid global trade concerns

The US Treasury Secretary and America's top trade negotiator began talks with high-ranking Chinese officials in Switzerland Saturday aiming to de-escalate a dispute that threatens to cut off trade between the world's two biggest economies and damage the global economy. The Xinhua News Agency says Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer have begun meetings in Geneva with a Chinese delegation led by Vice Premier He Lifeng. Diplomats from both sides also confirmed that the talks have begun but spoke anonymously and the exact location of the talks wasn't made public. Prospects for a major breakthrough appear dim. But there is hope that the two countries will scale back the massive taxes tariffs they've slapped on each other's goods, a move that would relieve world financial markets and companies on both sides of the Pacific Ocean that depend on US-China trade. US President Donald Trump last month raised US tariffs on China to a combined 145%, and .

One of first trade deals may be with India, says US treasury secy Bessent

Speaking to reporters after two early morning television interviews, Besssent said the first such trade agreement might come this week or next

Bond yields soften tracking US yields, profit booking caps gains

The yield on the 10-year Treasury declined on Wednesday after President Donald Trump reversed his comments about firing US Federal Reserve Chairman Jerome Powell

Dollar jumps after Bessent predicts easing of US-China trade tensions

The US dollar index, which measures the greenback against six other major currencies, was up 0.6 per cent at 98.937, after sinking as low as 97.923 in the previous session

US Treasury Secy defends China tariffs, says India important trade partner

US Secretary of the Treasury Scott Bessent emphasised that such a move focuses on countries like China, which have been contributing to imbalances in the global economy

Treasuries, US dollar see fall as Trump's trade war sparks recession fears

US stocks were in positive territory early, with investors weighing whether recent sharp selling may have been overdone, although trading remained choppy as it has been all week

Bessent says Treasury to play bigger role so lenders can finance growth

Bessent said Treasury's stronger involvement in crafting bank regulation would be achieved through the Financial Stability Oversight Council

Global bond markets shift as US treasuries face competition from Europe

One early test comes Tuesday, when the US government is set to sell $58 billion of three-year securities, followed by 10- and 30-year maturities later this week

Best of BS Opinion: Trump's tariffs generate differing global reactions

Our editorial page today addresses various topics, including global reactions to Trump's tariffs, the future of BIMSTEC, and a look at NVidia's CEO Jensen Huang

Over 50 nations seek trade talks with US after tariff action: Officials

Treasury Secretary Scott Bessent said more than 50 nations had started negotiations with the US since last Wednesday's announcement, putting Trump in a position of power

Stocks rebound after S&P 500 correction as safe-haven gold hits record

Last week the Nasdaq confirmed it was in a correction, driven lower by tariff and growth uncertainties as well as high valuations for megacap tech stocks

US treasury yields drop as Trump raises concerns over impending recession

Trump declined to predict whether the US could face a recession amid stock market concerns about his tariff actions on Mexico, Canada and China, saying that "there is a period of transition"

US will intensify sanctions on Russia, Iran: Treasury secy Scott Bessent

Sanctions on Russia "will be used explicitly and aggressively for immediate maximum impact" at President Donald Trump's guidance, Bessent told an audience at the Economic Club on New York

Gold price climbs Rs 10 to Rs 87,390, silver falls Rs 100 to Rs 96,800

The price of 22-carat gold rose by Rs 10, with ten grams of the yellow metal selling at Rs 80,110

DOGE says it saved $55 billion, itemised data show only $16.6 bn of that

Treasury Secretary Scott Bessent echoed claims that DOGE had found an estimated $50 billion savings so far

Citing rising cost, Trump directs US Treasury to stop minting new pennies

President Donald Trump says he has directed the Treasury Department to stop minting new pennies, citing the rising cost of producing the one-cent coin. For far too long the United States has minted pennies which literally cost us more than 2 cents. This is so wasteful! Trump wrote in a post Sunday night on his Truth Social site. I have instructed my Secretary of the US Treasury to stop producing new pennies. The move by Trump is the latest in what has been a rapid-fire effort by his new administration to enact sweeping change through executive order and proclamation on issues ranging from immigration, to gender and diversity, to the name of the Gulf of Mexico. Trump had not discussed his desire to eliminate the penny during his campaign. But Elon Musk's so-called Department of Government Efficiency raised the prospect in a post on X last month highlighting the penny's cost. The US Mint reported losing $85.3 million in the 2024 fiscal year that ended in September on the nearly 3.2 .

Billionaire Trump says time's up for lowly US 'penny', halts production

For many Americans, the coin has become a nuisance that ends up being discarded in drawers, ash trays and piggy banks

Trump suggests Musk's DOGE found irregularities in effort at Treasury

Musk's DOGE has sought access to Treasury Department payments data, but Musk's statements on social media have largely concerned payments to contractors and grant recipients, not bondholders