https://www.scmp.com/rss/522513/feed The latest news and top stories on the United States Department of the Treasury. A prominent Washington DC-based governmental body established in 1789, the US Department of the Treasury is dedicated to promoting economic prosperity and ensuring the financial security of the United States. Its main areas of focus include managing federal finances, collecting taxes, producing currency and coinage and advising on domestic and international economic policy. The institution is recognised for its... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Associated Press Associated Press The United States on Wednesday lifted sanctions on Venezuela’s acting President Delcy Rodriguez, according to an Office of Foreign Assets Control entry on the Treasury Department website. The newly announced sanctions relief is the latest US recognition of Rodriguez as a legitimate authority in Venezuela ever since the US military captured her predecessor, Nicolas Maduro, and his wife on January 3 in Venezuela’s capital, Caracas. The pair have since been taken to New York to face drug... https://www.scmp.com/news/world/americas/article/3348729/us-lifts-sanctions-venezuelas-acting-president-rodriguez-who-praises-trump?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3348729/us-lifts-sanctions-venezuelas-acting-president-rodriguez-who-praises-trump?utm_source=rss_feed Thu, 02 Apr 2026 02:09:16 +0000 Associated Press Associated Press The US Treasury Department plans to put US President Donald Trump’s signature on all new US paper currency, the agency announced on Thursday. The move would be a first for a sitting president, since traditionally, US paper currency carries the signatures of the Treasury secretary and the treasurer, not the president. The news was first reported by Vanity Fair. It was the latest instance of Trump putting his name and likeness on American cultural institutions, following his renaming of the US... https://www.scmp.com/news/world/united-states-canada/article/3348062/us-currency-bear-trumps-signature-first-sitting-president?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3348062/us-currency-bear-trumps-signature-first-sitting-president?utm_source=rss_feed Fri, 27 Mar 2026 00:33:08 +0000 Agence France-Presse Agence France-Presse The US Treasury on Friday temporarily lifted sanctions on Iranian oil already loaded onto vessels, in Washington’s latest step to stem a supply crisis over the Middle East war. The authorisation allows for the delivery and sale of Iranian crude oil and other petroleum products loaded onto ships before March 20, and will last through April 19, the Treasury said in a statement. The move by the Office of Foreign Assets Control, which Treasury Secretary Scott Bessent said on Thursday was under... https://www.scmp.com/news/us/economy-trade-business/article/3347401/us-approves-sale-iranian-oil-sea-move-ease-crude-supply-crisis?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3347401/us-approves-sale-iranian-oil-sea-move-ease-crude-supply-crisis?utm_source=rss_feed Sat, 21 Mar 2026 00:55:33 +0000 Agencies Agencies Israeli Defence Minister Israel Katz said on Wednesday that the country’s forces had killed Iran’s intelligence minister Esmail Khatib, adding that the military was authorised to kill any high-ranking Iranian official in its sights without seeking further approval. “Last night, Iran’s Intelligence Minister Khatib was also eliminated,” Katz said in a statement. The killing of Khatib comes soon after Israel killed Iran’s security chief Ali Larijani, and another powerful figure, Gholam Reza... https://www.scmp.com/news/world/middle-east/article/3347052/israel-claims-have-killed-iranian-intelligence-minister-esmail-khatib?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3347052/israel-claims-have-killed-iranian-intelligence-minister-esmail-khatib?utm_source=rss_feed Wed, 18 Mar 2026 10:50:25 +0000 Kyodo Kyodo The United States has imposed sanctions on two companies and six individuals for their roles in operations that used information technology workers in foreign countries to raise money for North Korea. The Treasury Department said the schemes, orchestrated by the North Korean government, had systematically defrauded US businesses and generated revenue to fund North Korea’s weapons programmes, including nearly US$800 million in 2024. The department also accused workers associated with North Korea... https://www.scmp.com/news/asia/east-asia/article/3346426/us-sanctions-2-firms-6-individuals-funding-north-korean-weapons?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3346426/us-sanctions-2-firms-6-individuals-funding-north-korean-weapons?utm_source=rss_feed Fri, 13 Mar 2026 01:35:07 +0000 Reuters Reuters Ayatollah Ali Khamenei’s son Mojtaba was chosen ⁠by Iran’s Assembly of Experts to succeed his late father as supreme leader on Monday, in a sign that hardliners were still firmly in charge. The clerical body named the 56-year-old mid-ranking cleric, who has survived the US-Israeli air war on Iran, as successor more than a week after Ayatollah Ali Khamenei was killed in an air strike, Iranian media reported. A member of the council, Ayatollah Mohsen Heidari Alekasir, said in a video on Sunday... https://www.scmp.com/news/world/middle-east/article/3345910/who-mojtaba-khamenei-son-and-successor-irans-supreme-leader?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3345910/who-mojtaba-khamenei-son-and-successor-irans-supreme-leader?utm_source=rss_feed Sun, 08 Mar 2026 22:19:10 +0000 Reuters Reuters The US ⁠customs agency is readying a system within 45 days to process refunds on President Donald Trump’s tariffs that were struck down as illegal, a customs official said in a court filing on Friday. The declaration by Customs and Border Protection official Brandon Lord came just before government lawyers met with a federal trade judge to try to hammer out a broad settlement process for returning US$166 billion in tariff ‌payments to around 330,000 importers. Last month, the US Supreme Court... https://www.scmp.com/news/world/united-states-canada/article/3345783/us-tariff-refund-system-be-ready-45-days-after-trump-duties-struck-down?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3345783/us-tariff-refund-system-be-ready-45-days-after-trump-duties-struck-down?utm_source=rss_feed Fri, 06 Mar 2026 21:52:42 +0000 Xinyi Wu Xinyi Wu Beijing has stressed that it does not intend to rely on a weaker yuan for trade gains, amid a recent rally in the currency and mounting pressure from trade partners to allow it to strengthen. “China has neither the need nor the intention to gain competitive advantages in trade through currency depreciation,” said Pan Gongsheng, governor of the central bank, at a press conference of the country’s top economic officials on Friday. The comments came ahead of a new round of trade talks between China... https://www.scmp.com/economy/china-economy/article/3345755/china-fires-back-currency-depreciation-claims-denies-using-weak-yuan-boost-exports?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3345755/china-fires-back-currency-depreciation-claims-denies-using-weak-yuan-boost-exports?utm_source=rss_feed Fri, 06 Mar 2026 12:00:09 +0000 Bloomberg Bloomberg US Treasury Secretary Scott Bessent said that President Donald Trump’s plan to increase a broad 10 per cent tariff rate to 15 per cent is likely to be implemented this week. “That’s likely sometime this week,” Bessent said on Wednesday on CNBC in response to a question about when the increase to 15 per cent would be made. Bessent’s comments offer the clearest indication yet regarding when the US will follow through on Trump’s pledge to raise tariffs. The president last month imposed a 10 per... https://www.scmp.com/news/world/united-states-canada/article/3345479/trumps-15-global-tariffs-likely-start-week-us-treasury-chief-says?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3345479/trumps-15-global-tariffs-likely-start-week-us-treasury-chief-says?utm_source=rss_feed Wed, 04 Mar 2026 17:14:01 +0000 Mark Magnier,Xinmei Shen,Finbarr Bermingham,Lucy Quaggin Mark Magnier,Xinmei Shen,Finbarr Bermingham,Lucy Quaggin US President Donald Trump used a White House meeting with the German Chancellor on Tuesday to blast European allies, praise China, waffle on tariffs and argue that the attack he launched against Iran prevented a nuclear war. Attended by Vice-President J.D. Vance and Secretary of State Marco Rubio at the White House, Trump told reporters during a meeting with German Chancellor Friedrich Merz that his order to attack Iran even as negotiations were under way was justified. “If we didn’t do what... https://www.scmp.com/news/us/diplomacy/article/3345327/trump-says-hell-cut-trade-spain-over-iran-war-stance?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3345327/trump-says-hell-cut-trade-spain-over-iran-war-stance?utm_source=rss_feed Tue, 03 Mar 2026 20:25:20 +0000 Bloomberg Bloomberg US and Chinese trade negotiators are slated to meet in mid-March, according to people familiar with the matter, signalling that a planned summit between Donald Trump and Xi Jinping is pushing ahead despite American strikes against Iran. US Treasury Secretary Scott Bessent, US Trade Representative Jamieson Greer and China’s Vice-Premier He Lifeng are expected to convene in Paris at the end of next week to discuss business deals that could stem from the leaders’ meeting, said the people who... https://www.scmp.com/news/china/diplomacy/article/3345326/us-and-china-trade-chiefs-meet-mid-march-trump-xi-summit?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3345326/us-and-china-trade-chiefs-meet-mid-march-trump-xi-summit?utm_source=rss_feed Tue, 03 Mar 2026 18:35:28 +0000 Agence France-Presse Agence France-Presse The US Treasury Department said on Monday it is ending use of all Anthropic products, following US President Donald Trump’s government-wide ban on the AI start-up after it rejected the Pentagon’s demands. The US Treasury “is terminating all use of Anthropic products, including the use of its Claude platform, within our department”, said Secretary Scott Bessent in a social media statement. The decision comes at the direction of Trump, he added. “Under President Trump no private company will ever... https://www.scmp.com/news/world/united-states-canada/article/3345184/us-treasury-says-it-stopping-use-anthropics-tech-including-its-claude-platform?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3345184/us-treasury-says-it-stopping-use-anthropics-tech-including-its-claude-platform?utm_source=rss_feed Mon, 02 Mar 2026 17:15:04 +0000 Reuters Reuters Indian Prime Minister Narendra Modi’s push to accelerate the roll-out of rooftop solar power is falling short of targets despite heavy subsidies due to loan delays and limited support from state utilities, vendors and analysts say. The shortfalls represent the latest challenge to India’s efforts to nearly double clean energy capacity to 500 gigawatts by 2030, and come as the government plans to suspend clean energy tendering targets amid a mounting backlog of awarded projects yet to be... https://www.scmp.com/news/asia/south-asia/article/3343665/indias-solar-power-push-misses-targets-red-tape-loan-refusals-hamper-transition?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3343665/indias-solar-power-push-misses-targets-red-tape-loan-refusals-hamper-transition?utm_source=rss_feed Mon, 16 Feb 2026 01:48:09 +0000 Malaika Thiam-Bockman Malaika Thiam-Bockman The United States has been constructing a new dimension of its economic security policy: outbound investment rules. Since January last year, Washington has not only established its first outbound investment screening programme but codified it into law and explicitly provided for its expansion. These rules are gaining teeth, giving rise to a compliance architecture that conditions US foreign direct investment on national security priorities. As firms begin to operationalise these rules, capital... https://www.scmp.com/opinion/asia-opinion/article/3342148/beyond-china-asia-will-bear-brunt-us-builds-walls-around-tech-capital?utm_source=rss_feed https://www.scmp.com/opinion/asia-opinion/article/3342148/beyond-china-asia-will-bear-brunt-us-builds-walls-around-tech-capital?utm_source=rss_feed Wed, 04 Feb 2026 12:30:38 +0000 Mark Magnier Mark Magnier US Treasury Secretary Scott Bessent said on Wednesday that the US and Canada were likely ‍to end up in a “good place” on trade but warned Washington’s northern neighbour not to launch a political fight in advance of coming talks on the US-Mexico-Canada ‌free trade deal. In an interview on CNBC, Bessent added that he ‍was disappointed by Europe’s decision to strike a major trade deal with India and defended US President Donald Trump’s decision to raise tariffs on South Korean goods. As... https://www.scmp.com/news/us/economy-trade-business/article/3341595/us-treasury-chief-bessent-cautions-canada-says-hes-disappointed-eu-india-deal?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3341595/us-treasury-chief-bessent-cautions-canada-says-hes-disappointed-eu-india-deal?utm_source=rss_feed Wed, 28 Jan 2026 17:38:39 +0000 Associated Press Associated Press US military forces boarded and took control of a seventh oil tanker connected with Venezuela on Tuesday, as part of the Trump administration’s broader efforts to take control of the South American country’s oil. US Southern Command said in a social media post that US forces apprehended the Motor Vessel Sagitta “without incident” and that the tanker was operating in defiance of US President Donald Trump’s “established quarantine of sanctioned vessels in the Caribbean”. The military command did... https://www.scmp.com/news/world/americas/article/3340642/us-forces-seize-seventh-sanctioned-oil-tanker-linked-venezuela?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3340642/us-forces-seize-seventh-sanctioned-oil-tanker-linked-venezuela?utm_source=rss_feed Wed, 21 Jan 2026 04:34:58 +0000 Matthew Cheng,Themis Chen Matthew Cheng,Themis Chen A Hong Kong-based company sanctioned by the United States for alleged links to Venezuelan oil exports registered a fictitious address in the city, the Post has found, leaving a namesake eyewear firm anxious about repercussions. The Trump administration stepped up its pressure campaign against Venezuela’s oil exports earlier this week by sanctioning four companies based in Hong Kong and mainland China, accusing them of ties to the Venezuelan oil sector and evading restrictions. The US Department... https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338627/hong-kong-firm-sanctioned-us-venezuela-crackdown-found-use-bogus-address?utm_source=rss_feed https://www.scmp.com/news/hong-kong/hong-kong-economy/article/3338627/hong-kong-firm-sanctioned-us-venezuela-crackdown-found-use-bogus-address?utm_source=rss_feed Sat, 03 Jan 2026 12:35:11 +0000 Bloomberg Bloomberg The Trump administration stepped up a pressure campaign against Venezuela’s oil exports by sanctioning companies based in Hong Kong and mainland China, along with related oil tankers it accused of evading restrictions. The US Treasury Department’s Office of Foreign Assets Control on Wednesday added four companies with links to Venezuela’s oil industry – Zhejiang-based Corniola and Hong Kong-based Aries Global Investment, Krape Myrtle Co and Winky International – to its specially designated... https://www.scmp.com/news/world/americas/article/3338441/us-sanctions-chinese-companies-and-tankers-venezuela-links?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3338441/us-sanctions-chinese-companies-and-tankers-venezuela-links?utm_source=rss_feed Thu, 01 Jan 2026 21:17:36 +0000 Khushboo Razdan Khushboo Razdan US President Donald Trump on Monday signed an executive order (EO) designating illicit fentanyl, a powerful synthetic opioid driving the US overdose crisis, as a weapon of mass destruction. The EO issued by the White House asserted that “illicit fentanyl is closer to a chemical weapon than a narcotic” due to its extreme potency. “Two milligrams, an almost undetectable trace amount equivalent to 10 to 15 grains of table salt, constitutes a lethal dose,” it said. The order highlights the national... https://www.scmp.com/news/us/politics/article/3336550/no-bomb-does-what-doing-trump-calls-fentanyl-weapon-mass-destruction?utm_source=rss_feed https://www.scmp.com/news/us/politics/article/3336550/no-bomb-does-what-doing-trump-calls-fentanyl-weapon-mass-destruction?utm_source=rss_feed Mon, 15 Dec 2025 21:49:47 +0000 Frank Tang Frank Tang The United States is striving for a more “constructive” relationship with China after this year’s trade war and will continue to pursue a “managed” bilateral trade relationship, its chief trade envoy said, despite concerns lingering over China’s grip on critical minerals and pushback over the White House’s recent approval of H200 AI chip sales. The comments by US Trade Representative Jamieson Greer came after Beijing and Washington fought fiercely throughout the year over tariffs. The Chinese... https://www.scmp.com/news/china/article/3335970/us-seeks-constructive-reset-china-trade-tensions-ease-greer?utm_source=rss_feed https://www.scmp.com/news/china/article/3335970/us-seeks-constructive-reset-china-trade-tensions-ease-greer?utm_source=rss_feed Wed, 10 Dec 2025 19:51:45 +0000 Reuters Reuters The United States on Monday formally designated Venezuela’s Cartel de los Soles as a foreign terrorist organisation, layering additional terrorism-related sanctions on the group it has said includes President Nicolas Maduro and other high-ranking officials. Venezuela’s government rejected what it called a “ridiculous” US plan to designate the “non-existent” group. US Secretary of State Marco Rubio said this month the US would designate Cartel de los Soles, or Cartel of the Suns, as a foreign... https://www.scmp.com/news/world/united-states-canada/article/3333987/venezuela-rejects-us-terrorist-label-nonexistent-cartel-de-los-soles?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3333987/venezuela-rejects-us-terrorist-label-nonexistent-cartel-de-los-soles?utm_source=rss_feed Mon, 24 Nov 2025 13:00:44 +0000 Kyodo Kyodo The chairman of a Cambodia-based conglomerate indicted by US authorities over alleged large-scale investment fraud and money laundering had acquired a luxury property in Tokyo as his residence, Japanese corporate registration documents showed on Monday. Chen Zhi, a Cambodian national of Chinese descent who heads Prince Holding Group, established Prince Group in the Japanese capital in 2022 and is believed to have sought long-term residence status in Japan by starting his own business. The US... https://www.scmp.com/news/asia/east-asia/article/3333180/sanctions-hit-cambodian-tycoon-chen-zhi-owned-luxury-condo-tokyo?utm_source=rss_feed https://www.scmp.com/news/asia/east-asia/article/3333180/sanctions-hit-cambodian-tycoon-chen-zhi-owned-luxury-condo-tokyo?utm_source=rss_feed Tue, 18 Nov 2025 01:31:43 +0000 Bloomberg Bloomberg The US sanctioned dozens of firms and people supporting Iran’s ballistic missile and drone manufacturing industry across countries in Asia and the Middle East as part of the Trump administration’s “maximum pressure” campaign against Tehran. The Treasury Department announced sanctions Wednesday on 32 individuals and entities in Iran, the UAE, Turkey, China, Hong Kong, India, Germany and Ukraine that it said have helped procure key components, including missile propellant precursors, for the drone... https://www.scmp.com/news/world/middle-east/article/3332556/us-sanctions-firms-china-india-over-iranian-weapons?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3332556/us-sanctions-firms-china-india-over-iranian-weapons?utm_source=rss_feed Wed, 12 Nov 2025 19:49:36 +0000 SCMP Editorial SCMP Editorial The net is closing in on accused scammer and human trafficker Chen Zhi. The latest move involves Hong Kong police freezing HK$2.75 billion (US$352 million) in assets including cash, stocks and funds. These are believed to be criminal proceeds from a transnational criminal empire implicated in telecoms fraud, money laundering, kidnapping and trafficking allegedly headed by the Fujian-born Cambodian businessman, who is still at large. The United States, Britain, Taiwan and Singapore have already... https://www.scmp.com/opinion/comment/article/3332320/silver-lining-sprawling-scam-case-cross-border-cooperation?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3332320/silver-lining-sprawling-scam-case-cross-border-cooperation?utm_source=rss_feed Tue, 11 Nov 2025 22:45:07 +0000 Agence France-Presse Agence France-Presse Syria is joining the global coalition against Islamic State, a US official said on Monday hours after President Donald Trump welcomed his Syrian counterpart Ahmed al-Sharaa for historic White House talks. Sharaa, whose rebel forces ousted long-time ruler Bashar al-Assad late last year, was the first Syrian leader to visit the White House since the Middle Eastern country’s independence in 1946. But the 43-year-old’s landmark visit to the Oval Office came just days after Washington removed him... https://www.scmp.com/news/world/united-states-canada/article/3332254/trump-hosts-syrias-president-sharaa-white-house-renews-temporary-waiver-sanctions?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3332254/trump-hosts-syrias-president-sharaa-white-house-renews-temporary-waiver-sanctions?utm_source=rss_feed Mon, 10 Nov 2025 19:19:46 +0000 Park Chan-kyong Park Chan-kyong North Korea has denounced new US sanctions targeting its cybercrime networks, accusing Washington of harbouring “wicked” hostility, but analysts have said Pyongyang’s unusually restrained response suggests it is leaving the door open to future dialogue. “Now that the present US administration has clarified its stand to be hostile towards the DPRK to the last, we will also take proper measures to counter it with patience for any length of time,” read a statement by North Korean Vice-Foreign... https://www.scmp.com/week-asia/politics/article/3331815/north-korea-slams-us-wicked-hostility-over-sanctions-linked-cybercrime?utm_source=rss_feed https://www.scmp.com/week-asia/politics/article/3331815/north-korea-slams-us-wicked-hostility-over-sanctions-linked-cybercrime?utm_source=rss_feed Fri, 07 Nov 2025 01:30:11 +0000 Reuters Reuters The US Treasury Department on Tuesday sanctioned eight individuals and two entities who it said were involved in a variety of North Korean cyber-related money-laundering schemes. The Treasury said the move was aimed at cutting off funding for North Korea’s weapons programmes. “By generating revenue for Pyongyang’s weapons development, these actors directly threaten US and global security,” John Hurley, Treasury’s undersecretary for terrorism and financial intelligence, said in a... https://www.scmp.com/news/world/united-states-canada/article/3331540/us-imposes-north-korea-related-sanctions-individuals-entities-money-laundering?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3331540/us-imposes-north-korea-related-sanctions-individuals-entities-money-laundering?utm_source=rss_feed Tue, 04 Nov 2025 18:12:37 +0000 Reuters Reuters Singapore police have seized more than S$150 million (US$115.90 million) in assets tied to the Prince Group, a multinational network accused of running vast scam centre operations, the Straits Times newspaper reported on Friday. The assets include six properties as well as bank accounts, securities accounts and cash tied to the network and Cambodian businessman Chen Zhi in relation to money laundering and forgery offences, the police said on Friday. This seizure came after Britain and the United... https://www.scmp.com/news/asia/southeast-asia/article/3331027/singapore-seizes-us115-million-assets-linked-cambodian-tycoon-chen-zhi?utm_source=rss_feed https://www.scmp.com/news/asia/southeast-asia/article/3331027/singapore-seizes-us115-million-assets-linked-cambodian-tycoon-chen-zhi?utm_source=rss_feed Fri, 31 Oct 2025 06:04:10 +0000 Agence France-Presse Agence France-Presse The United States on Friday announced sanctions on Colombia’s President Gustavo Petro, who Washington has accused of failing to curb illicit drug trafficking, alongside his wife and eldest son. “President Petro has allowed drug cartels to flourish and refused to stop this activity,” said US Treasury Secretary Scott Bessent in a statement unveiling the move. “President [Donald] Trump is taking strong action to protect our nation and make clear that we will not tolerate the trafficking of drugs... https://www.scmp.com/news/world/americas/article/3330286/us-sanctions-colombia-president-over-drugs-amid-escalating-row-trump?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3330286/us-sanctions-colombia-president-over-drugs-amid-escalating-row-trump?utm_source=rss_feed Fri, 24 Oct 2025 21:37:15 +0000 Mark Magnier,Khushboo Razdan Mark Magnier,Khushboo Razdan Blame games, tit-for-tat threats, off-again on-again meetings between US President Donald Trump and Chinese President Xi Jinping, and wild tariff swings seem to be the recent order of the day. According to former government officials and analysts, however, this should come as no surprise – it’s just the price you pay when diplomatic norms are brushed off. In the latest twist in the saga, Trump on Friday swung from tough to conciliatory, appearing to reverse threats made a week earlier to cancel... https://www.scmp.com/news/us/diplomacy/article/3329484/will-trump-and-xis-shock-tactics-ruin-any-chances-ending-us-china-trade-war?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3329484/will-trump-and-xis-shock-tactics-ruin-any-chances-ending-us-china-trade-war?utm_source=rss_feed Fri, 17 Oct 2025 22:26:31 +0000 Reuters Reuters The two-week-old federal government shutdown is costing the US economy about US$15 billion a day in lost output, Treasury Secretary Scott Bessent said on Wednesday, putting an estimate on its economic toll and urging Democrats to “be heroes” and side with Republicans to end it. Bessent told a news conference that the shutdown was starting to “cut into muscle” of the US economy. “We believe that the shutdown may start costing the US economy up to US$15 billion a day,” he said. The wave of... https://www.scmp.com/news/world/united-states-canada/article/3329165/shutdown-costing-us-economy-us15-billion-day-trumps-treasury-chief-bessent-says?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3329165/shutdown-costing-us-economy-us15-billion-day-trumps-treasury-chief-bessent-says?utm_source=rss_feed Wed, 15 Oct 2025 16:54:49 +0000 Associated Press Associated Press US President Donald Trump said on Saturday that he has directed the Defence Department to use “all available funds” to ensure American troops are paid on Wednesday despite the government shutdown. Trump said in a social media post that he was acting because “our Brave Troops will miss the paychecks they are rightfully due on October 15th”. The Republican president’s action removes one of the pressure points that could have forced Congress into action, likely ensuring that the shutdown – now in... https://www.scmp.com/news/world/united-states-canada/article/3328666/trump-orders-pentagon-use-all-available-funds-pay-troops-despite-shutdown?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3328666/trump-orders-pentagon-use-all-available-funds-pay-troops-despite-shutdown?utm_source=rss_feed Sat, 11 Oct 2025 19:10:31 +0000 Bloomberg Bloomberg The United States rushed to stabilise Argentina’s economy on Thursday, offering US$20 billion in financing and carrying out a rare intervention in currency markets to prop up the peso after weeks of sharp declines. Washington has finalised a US$20 billion currency swap framework with Argentina’s central bank, Treasury Secretary Scott Bessent said in a social media post. The US also directly purchased pesos, he said, a move that followed unsuccessful efforts by Argentine authorities to stabilise... https://www.scmp.com/news/world/americas/article/3328440/us-launches-financial-rescue-argentina-treasury-buys-pesos-rare-move?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3328440/us-launches-financial-rescue-argentina-treasury-buys-pesos-rare-move?utm_source=rss_feed Thu, 09 Oct 2025 20:20:51 +0000 Reuters Reuters The US has imposed sanctions on about 100 individuals, entities and vessels, including a Chinese independent refinery and terminal, that helped Iran’s oil and petrochemicals trade, the administration of President Donald Trump said on Thursday. The US Treasury Department sanctioned Shandong Jincheng Petrochemical Group, which it said is an independent teapot refinery in Shandong Province that has bought millions of barrels of Iranian oil since 2023. It also sanctioned China-based Rizhao Shihua... https://www.scmp.com/news/world/middle-east/article/3328435/us-imposes-sanctions-china-refinery-over-iran-oil-purchases?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3328435/us-imposes-sanctions-china-refinery-over-iran-oil-purchases?utm_source=rss_feed Thu, 09 Oct 2025 18:42:30 +0000 Reuters Reuters The US Treasury is considering making a US$1 coin featuring President Donald Trump to commemorate 250 years since the declaration of American independence in 2026, it said on Friday. Images of the potential design showed Trump holding a raised clenched fist on one side of the coin alongside the words “fight, fight, fight” – a reference to what he said immediately after surviving an assassination attempt last year. The other side of the coin shows Trump in profile with the word “liberty” above... https://www.scmp.com/news/world/united-states-canada/article/3327855/us-considers-us1-trump-coin-mark-250th-independence-celebrations?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3327855/us-considers-us1-trump-coin-mark-250th-independence-celebrations?utm_source=rss_feed Fri, 03 Oct 2025 23:35:18 +0000 Bochen Han Bochen Han A US federal judge on Friday rejected a push by Shenzhen-based DJI, the world’s largest drone manufacturer, to be removed from the Pentagon’s blacklist of companies allegedly linked to China’s military. In his opinion, US District Judge Paul Friedman in Washington said the Department of Defence had substantial evidence supporting its finding that DJI, which accounts for over half of all US commercial drones, contributes to the “Chinese defence industrial base”. DJI had filed a suit last October... https://www.scmp.com/news/us/article/3327057/drone-maker-dji-loses-lawsuit-against-pentagon-claim-chinese-military-ties?utm_source=rss_feed https://www.scmp.com/news/us/article/3327057/drone-maker-dji-loses-lawsuit-against-pentagon-claim-chinese-military-ties?utm_source=rss_feed Fri, 26 Sep 2025 18:02:27 +0000 Fan Chen Fan Chen The United States and China found a rare common ground in their trade talks in Madrid this week, agreeing to work together to crack down on money laundering from illegal fentanyl sales. After the talks ended on Monday, US Treasury Secretary Scott Bessent said both nations suffered the consequences of the money laundering from the trade. “The money laundering is the result of fentanyl sales, and both the People’s Republic of China’s government and the US government and citizens are hurt by the... https://www.scmp.com/news/china/diplomacy/article/3325882/china-and-us-agree-target-money-launderers-linked-fentanyl-trade?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3325882/china-and-us-agree-target-money-launderers-linked-fentanyl-trade?utm_source=rss_feed Wed, 17 Sep 2025 12:00:17 +0000 Brian Rhoads,Neil Denslow Brian Rhoads,Neil Denslow A slew of Chinese data added to signs of an economic slowdown, potentially weakening the government’s hand in a new round of trade talks with the United States. August retail sales only increased by 3.4 per cent, trailing the 3.8 per cent estimate among economists polled by financial data provider Wind. Industrial output grew by 5.2 per cent year on year versus the 5.8 per cent forecast. Fixed asset investment and real estate investment were also worse than expected, while home prices fell and... https://www.scmp.com/plus/article/3325581/china-us-trade-talks-who-will-buckle-first-amid-mutual-pain?utm_source=rss_feed https://www.scmp.com/plus/article/3325581/china-us-trade-talks-who-will-buckle-first-amid-mutual-pain?utm_source=rss_feed Mon, 15 Sep 2025 09:00:22 +0000 Reuters Reuters The US Treasury Department on Tuesday sanctioned a network of shipping companies and vessels led by an Iraqi-Kittitian businessman for smuggling Iranian oil disguised as Iraqi oil. The administration of US President Donald Trump is keeping pressure on Iran while nuclear talks have stalled. A sixth round of negotiations was suspended after the start of a 12-day war in June. A senior Iranian official said on Tuesday that the path to nuclear negotiations is not closed but US demands for curbs on... https://www.scmp.com/news/world/middle-east/article/3324109/us-sanctions-shipping-network-smuggling-iran-oil?utm_source=rss_feed https://www.scmp.com/news/world/middle-east/article/3324109/us-sanctions-shipping-network-smuggling-iran-oil?utm_source=rss_feed Tue, 02 Sep 2025 17:57:33 +0000 Mark Magnier Mark Magnier The administration of US President Donald Trump called on American banks and other financial institutions Thursday to step up monitoring of suspected Chinese money-laundering networks it says fuel fentanyl addiction in the United States. The advisory highlighted how informal Chinese money-laundering operations work in a symbiotic relationship with the Jalisco New Generation, Sinaloa, Gulf and other Mexican drug cartels to effectively bypass financial safeguards. “Money-laundering networks linked... https://www.scmp.com/news/world/united-states-canada/article/3323545/trump-urges-banks-flag-chinese-money-laundering-linked-fentanyl-trade?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3323545/trump-urges-banks-flag-chinese-money-laundering-linked-fentanyl-trade?utm_source=rss_feed Thu, 28 Aug 2025 14:01:12 +0000 Vanessa Cai Vanessa Cai Beijing has renewed its call for a political and diplomatic resolution to the Iran nuclear issue as Tehran faces fresh economic sanctions from the United States. In a call with deputy foreign minister Kazem Gharibabadi on Sunday, Chinese foreign vice-minister Ma Zhaoxu said China hoped that all parties concerned would “remain committed to resolving the issue through political and diplomatic means and actively create conditions for an early resumption of dialogue and negotiations”. “China will... https://www.scmp.com/news/china/diplomacy/article/3323040/china-urges-dialogue-resolve-iran-nuclear-issue-new-economic-sanctions-loom?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3323040/china-urges-dialogue-resolve-iran-nuclear-issue-new-economic-sanctions-loom?utm_source=rss_feed Mon, 25 Aug 2025 07:28:51 +0000 Alex Lo Alex Lo The United States is fighting two chip wars against China. One involves playing dirty, which it has already lost, though it doesn’t know it yet. The other, more legitimate, remains to be seen. It depends on whether America can maintain its longstanding tech innovation and leadership. But with Donald Trump at the helm with his weird and often incomprehensible “strategies” – from cuts and firings in government-funded basic research to direct interference in the tech sector – things don’t look... https://www.scmp.com/opinion/article/3322140/washington-has-already-lost-dirty-chip-war-does-not-know-it-yet?utm_source=rss_feed https://www.scmp.com/opinion/article/3322140/washington-has-already-lost-dirty-chip-war-does-not-know-it-yet?utm_source=rss_feed Sun, 17 Aug 2025 13:00:15 +0000 Luna Sun,Alice Li Luna Sun,Alice Li China’s rare earth exports surged in June to their highest level since December 2009, in what analysts said could be an early sign that recent behind-the-scenes agreements with the United States on the flow of critical minerals are beginning to bear fruit. Exports of the elements reached 7,742.2 tonnes last month – a 60 per cent increase from the 4,828.7 tonnes recorded in June 2024 – and a 32 per cent jump compared to the 5,865 tonnes reported this May, according to customs data. Rare earth... https://www.scmp.com/economy/economic-indicators/article/3318166/chinas-rare-earth-exports-swell-june-beijing-relaxes-controls?utm_source=rss_feed https://www.scmp.com/economy/economic-indicators/article/3318166/chinas-rare-earth-exports-swell-june-beijing-relaxes-controls?utm_source=rss_feed Mon, 14 Jul 2025 14:30:09 +0000