scott bessent

US Secretary of the Treasury, scott bessent, on Wednesday, praised Japan's economic resilience and highlighted the importance of economic security during meetings with senior Japanese leaders on Tuesday as part of his Asia visit. The visit came ahead of US President Donald Trump's upcoming summit with Chinese President Xi Jinping in Beijing from May 13-15.

A political clash has ignited online between US Treasury Secretary scott bessent and Senator Bernie Sanders regarding the inclusion of Chinese scientists in a crucial AI safety forum. Sanders advocates for international cooperation to address AI's existential threat, while Bessent criticizes the move, asserting American AI leadership and warning against foreign influence on US regulation.

This week, US President Donald Trump will embark on a pivotal journey to China, where his host expects 'more stability' in terms of trade disputes and the turbulence in the Middle East. A day before his visit, key economic advisers and trade negotiators will meet in Seoul to finalise critically important negotiations.

US Treasury Secretary scott bessent announced the US will not renew a waiver allowing the purchase of Russian oil currently at sea. He also stated that another waiver for Iranian oil is "totally off the table." This decision comes after a recent extension of the waiver for Russian oil, which was intended to stabilize global energy markets.

US President Donald Trump shared a modified map renaming the Strait of Hormuz as the "Strait of Trump," following claims that a naval blockade against Iran could last for months. This development occurs as Iran rejects US claims about economic damage and criticizes the blockade strategy, with its parliament speaker calling the advice "junk."

During his recent trip to Beijing, President Trump showcased a willingness to engage in conversations about US arms sales to Taiwan, confident that his personal bond with Xi Jinping would act as a buffer against any potential Chinese aggression. The visit, primarily focused on enhancing trade relations, also included key American business leaders.

An oil spill near Iran's Kharg Island, the country's primary oil export hub, has raised concerns amid a US naval blockade. Satellite images show a significant oil slick, potentially amounting to 3,000 barrels lost. This incident occurs as Iran faces a storage crisis due to the blockade, with capacity nearing its limit.

A Chinese think tank quietly asked Anthropic for access to Mythos, its powerful new AI model that can find software vulnerabilities on its own. Anthropic refused, and the White House National Security Council reacted with alarm. With Mythos rattling banks, hospitals and the Pentagon, the request has landed days before Trump meets Xi in Beijing, where AI safety is now on the agenda.

The US Treasury has seized $344 million in cryptocurrency assets linked to Iran, aiming to disrupt Tehran's funding capabilities. This action, targeting digital assets alongside traditional evasion methods, comes amid heightened tensions and energy supply concerns in the Middle East.

The United States has stepped up efforts to restrict Iranian oil exports, a major source of revenue for Tehran. Late last month, the Treasury Department’s Office of Foreign Assets Control imposed sanctions on Hengli, targeting one of the most prominent and well-connected companies in China’s large crude-processing sector.

Presidents Xi and Trump are set for a crucial summit, aiming for stability despite deep-seated issues like tech rivalry and Taiwan. While a trade deal might emerge, it won't end the underlying friction. China's focus on domestic chip production and its stance on Taiwan, deemed the 'biggest risk,' will also be key discussion points. The US may also expect China's mediation in ending the Iranian mess.

The US and UK have imposed separate sanctions targeting individuals, companies, and networks involved in Iran's oil sales, financial transactions, and alleged hostile activities. These measures aim to disrupt Iran's oil exports to China and cut off funding for the IRGC, while the UK focuses on shadow banking and destabilizing operations linked to criminal networks.

As President Trump arrives in Beijing, anticipation runs low for any breakthroughs regarding China's influence over Iran and the vital Strait of Hormuz. His agenda includes discussions on trade and the pressing issue of fentanyl, yet underlying tensions over their differing views on geopolitical conflicts threaten to overshadow these talks.

Gold price prediction today: Gold prices are expected to continue seeing volatility in the near-term, says Praveen Singh, Head Currencies and Commodities, Mirae Asset ShareKhan.

The White House is reportedly considering easing restrictions on AI firm Anthropic, a shift from its previous 'supply chain risk' label. This comes after President Trump's positive remarks and a meeting with Anthropic's CEO.

The US has tightened its grip on Iran's oil revenue by sanctioning a major Chinese refinery and numerous shipping entities involved in transporting Iranian crude. This move targets a "shadow network" and escalates pressure amid regional tensions. China has criticized the sanctions, urging an end to their political use and warning of harm to legitimate trade.