https://www.scmp.com/rss/522578/feed US Treasury: A prominent Washington, D.C.-based executive department, the US Treasury is dedicated to promoting economic prosperity and ensuring the financial security of the United States. Established in 1789, its core activities include managing federal finances, collecting taxes, producing currency and coinage, and advising the President on economic policy. It also plays a crucial role in strengthening national security and protecting the integrity of the financial system, notably... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Frank Chen Frank Chen The United States’ rapidly mounting sovereign debt pile – which reached an unprecedented US$39 trillion on Wednesday – is becoming “alarmingly unsustainable” and a potential threat to the global economy, with spending likely to spiral even further amid the Iran war, analysts said. It remains unclear whether US President Donald Trump has the political will to rein in borrowing, despite promising to eliminate the national debt while campaigning for office in 2016, and other countries including... https://www.scmp.com/economy/global-economy/article/3347192/us-federal-debt-becoming-alarmingly-unsustainable-iran-war-fuels-spending-analysts?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3347192/us-federal-debt-becoming-alarmingly-unsustainable-iran-war-fuels-spending-analysts?utm_source=rss_feed Fri, 20 Mar 2026 02:00:10 +0000 Reuters Reuters A federal arts panel comprised of members appointed by Donald Trump on Thursday unanimously approved a commemorative gold coin featuring his image, part of a series of coins the US Mint is planning to produce to celebrate America’s 250th birthday this year. The 24-carat gold coin was the latest effort by Trump and his allies to put the president’s name on buildings, government programmes ‌and US currency since his second White House term began in January 2025. During a presentation by a US Mint... https://www.scmp.com/news/world/united-states-canada/article/3347225/trump-picked-panel-approves-gold-coin-his-image-larger-better?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3347225/trump-picked-panel-approves-gold-coin-his-image-larger-better?utm_source=rss_feed Thu, 19 Mar 2026 21:12:36 +0000 Reuters Reuters The British government is looking to provide “targeted” support for ⁠poorer households to offset the impact of ⁠surging energy costs due to the conflict ⁠in the Middle East, finance minister Rachel Reeves has said. In an interview published on Saturday, Reeves told the Times newspaper the government was looking at options to help those vulnerable to sharp rises in energy prices, especially those who relied on heating oil, but ruled out universal help for all households, saying it would be... https://www.scmp.com/news/world/europe/article/3346616/uk-eyes-targeted-support-households-amid-rising-energy-costs?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3346616/uk-eyes-targeted-support-households-amid-rising-energy-costs?utm_source=rss_feed Sat, 14 Mar 2026 12:35:27 +0000 Biman Mukherji Biman Mukherji India received some welcome news last week about its energy supply: it had been granted permission, by the United States, to take delivery of oil it had already bought. The tankers were already at sea – Russian crude, loaded and paid for, stranded in limbo by the disruptions sweeping out of the war on Iran. They needed a waiver, which US Treasury Secretary Scott Bessent announced on Thursday: a 30-day exemption allowing Indian refiners to receive the cargoes before American sanctions... https://www.scmp.com/week-asia/economics/article/3345954/indias-30-day-russian-oil-waiver-tied-us-crude-demands?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3345954/indias-30-day-russian-oil-waiver-tied-us-crude-demands?utm_source=rss_feed Mon, 09 Mar 2026 10:00:14 +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 Reuters Reuters A group of 24 US states sued President Donald Trump’s administration on Thursday in the first legal challenge to his newly imposed 10 per cent global tariffs, alleging that the president cannot sidestep a recent US Supreme Court ruling that invalidated most of his previous tariffs on imported goods by citing new legal authority, according to ‌the states. The Democratic-led states, including New York, California and Oregon, argued that the new tariffs, which Trump announced immediately after the... https://www.scmp.com/news/world/united-states-canada/article/3345632/24-us-states-suing-stop-trumps-latest-global-tariffs?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3345632/24-us-states-suing-stop-trumps-latest-global-tariffs?utm_source=rss_feed Thu, 05 Mar 2026 19:27:57 +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 Peggy Ye Peggy Ye The Taiwan Stock Exchange has become increasingly tied to American capital, as the global artificial intelligence boom drew a record amount of US investments into the island’s semiconductor-heavy equity market. US investors currently hold a record US$668 billion worth of Taiwan equities – about 23 per cent of the exchange’s total market capitalisation – after funnelling roughly US$12 billion into the market in 2025, according to BNP Paribas, citing data from Treasury International Capital – a... https://www.scmp.com/business/markets/article/3345307/us-investors-drive-record-outlay-taiwans-equities-market-back-ai-boom?utm_source=rss_feed https://www.scmp.com/business/markets/article/3345307/us-investors-drive-record-outlay-taiwans-equities-market-back-ai-boom?utm_source=rss_feed Tue, 03 Mar 2026 22:30:08 +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 James David Spellman James David Spellman Pension and sovereign wealth funds across Asia are reassessing the role of US Treasuries in their portfolios as alternative equity and fixed-income assets deliver higher yields and broader diversification of risks. Recent divestments by Sweden’s Alecta and Denmark’s AkademikerPension have drawn the attention of Asia’s investment managers, even as Norway’s Government Pension Fund Global – the world’s largest sovereign wealth fund – has moved in the opposite direction by increasing its holdings.... https://www.scmp.com/opinion/world-opinion/article/3343060/why-asias-sovereign-wealth-funds-are-rethinking-us-treasuries?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3343060/why-asias-sovereign-wealth-funds-are-rethinking-us-treasuries?utm_source=rss_feed Sun, 15 Feb 2026 08:30:11 +0000 Mandy Zuo Mandy Zuo As the global financial landscape shifts and policy uncertainty grows in the United States, China is likely to emerge as an increasingly attractive destination for foreign investors seeking to diversify away from dollar-denominated assets, according to a veteran Singaporean investor. US President Donald Trump’s push for a weaker dollar, together with recent volatility in gold, silver and cryptocurrencies, has prompted a reassessment of traditional safe havens, positioning China as a potential... https://www.scmp.com/economy/china-economy/article/3343187/trump-factor-why-china-may-benefit-investors-diversify-us-dollar-assets?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3343187/trump-factor-why-china-may-benefit-investors-diversify-us-dollar-assets?utm_source=rss_feed Thu, 12 Feb 2026 02:00:14 +0000 Igor Patrick Igor Patrick The United States is seeking a fair and enduring competition with China, along with strengthening its economic and political relationships with Latin America, US Treasury Secretary Scott Bessent said on Tuesday. He termed this the strategy of reducing vulnerabilities without cutting ties with Beijing. Speaking at an investor conference in Sao Paulo, hosted by the Brazilian bank BTG Pactual, Bessent said that Washington did not want to sever economic ties with China. Still, it was trying to... https://www.scmp.com/news/us/economy-trade-business/article/3343118/treasury-chief-says-us-seeks-fair-china-competition-eyes-latin-america-realignment?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3343118/treasury-chief-says-us-seeks-fair-china-competition-eyes-latin-america-realignment?utm_source=rss_feed Tue, 10 Feb 2026 22:05:24 +0000 Bloomberg Bloomberg India’s imports of Russian oil could almost halve from already weaker recent levels, according to people with direct knowledge of the purchases, after US President Donald Trump issued an order detailing some terms of a trade deal between the two nations. All state-owned and private refiners, with the exception of Nayara Energy Ltd, had paused buying any spot cargoes since Trump first mentioned the deal in a social media post about a week ago, according to the people, who asked not to be named... https://www.scmp.com/news/asia/south-asia/article/3342959/indias-oil-imports-russia-snared-trump-order-tariff-threat?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3342959/indias-oil-imports-russia-snared-trump-order-tariff-threat?utm_source=rss_feed Mon, 09 Feb 2026 13:16:02 +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 Sylvia Ma Sylvia Ma Interest in de-dollarisation has spiked in Chinese academic and policy circles, as Beijing grows increasingly wary of the United States’ potential to weaponise its currency. The surge has been most visible in the volume of research. A search by the South China Morning Post on China National Knowledge Infrastructure (CNKI), one of the country’s largest academic research databases, showed the number of papers on the subject more than doubled from 2023 to 2025 compared with the preceding three... https://www.scmp.com/economy/global-economy/article/3341876/trade-war-global-instability-push-de-dollarisation-chinas-academic-mainstream?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341876/trade-war-global-instability-push-de-dollarisation-chinas-academic-mainstream?utm_source=rss_feed Mon, 02 Feb 2026 00:00:10 +0000 Mia Nurmamat Mia Nurmamat Since returning to the White House a year ago, US President Donald Trump has stepped up pressure on the Federal Reserve. With the term of the current Federal Reserve chair, Jerome Powell, set to end in May, Trump said he would announce his pick to replace Powell on Friday. Speculation has intensified on prediction markets. On Polymarket and Kalshi, betting volumes on the question “Who will Trump nominate as Fed chair?” had respectively reached about US$294.24 million and US$81.61 million by... https://www.scmp.com/economy/global-economy/article/3341813/trumps-fed-pick-new-clear-favourite-emerges-chair-race-succeed-powell?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341813/trumps-fed-pick-new-clear-favourite-emerges-chair-race-succeed-powell?utm_source=rss_feed Fri, 30 Jan 2026 08:30:19 +0000 Bloomberg Bloomberg US President Donald Trump sued the US Treasury and Internal Revenue Service (IRS) for at least US$10 billion over an unauthorised disclosure of his tax returns to the press during his first term in office, potentially putting American taxpayers on the hook for a massive payout. The suit was filed on Thursday in Miami federal court by Trump, his sons Donald Jnr and Eric, and the Trump Organization, which manages the president’s real estate holdings. Trump had long criticised the IRS for allegedly... https://www.scmp.com/news/world/united-states-canada/article/3341823/trump-sues-irs-us-treasury-us10-billion-over-leaked-tax-returns?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3341823/trump-sues-irs-us-treasury-us10-billion-over-leaked-tax-returns?utm_source=rss_feed Fri, 30 Jan 2026 08:16:35 +0000 Sylvia Ma Sylvia Ma The United States has urged China to allow the yuan to appreciate, accusing Beijing of a lack of transparency and describing the currency as “substantially undervalued”. “It is important that the Chinese authorities allow the RMB exchange rate to strengthen in a timely and orderly manner in line with market pressure and macroeconomic fundamentals,” the US Treasury said in a report released on Thursday. China’s exchange-rate policies stood out among major US trading partners for their “relative... https://www.scmp.com/economy/global-economy/article/3341801/us-presses-china-let-yuan-strengthen-avoids-currency-manipulator-label?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341801/us-presses-china-let-yuan-strengthen-avoids-currency-manipulator-label?utm_source=rss_feed Fri, 30 Jan 2026 07:01:09 +0000 Bloomberg Bloomberg British Columbia Premier David Eby said Alberta separatists who have sought help from Washington in their quest to gain independence from Canada are carrying out an act of immense disloyalty. “To go to a foreign country and to ask for assistance in breaking up Canada, there’s an old-fashioned word for that – and that word is treason,” said Eby, the leader of Canada’s westernmost province, which is Alberta’s neighbour. The Financial Times reported that officials in the Trump administration have... https://www.scmp.com/news/world/united-states-canada/article/3341747/canadas-eby-slams-separatists-seeking-us-help-word-treason?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3341747/canadas-eby-slams-separatists-seeking-us-help-word-treason?utm_source=rss_feed Thu, 29 Jan 2026 21:58:44 +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 Sylvia Ma Sylvia Ma For decades, the US dollar has served as the currency of global reserve, the de facto anchor for the vast majority of international exchanges. Consequently, United States government debt – most commonly in the form of Treasury assets such as bonds, notes and bills – has long been regarded as a safe haven by investors, prized for its unmatched liquidity and deep market penetration. That faith has remained strong in the past, even amid global financial crises. But the events of recent weeks... https://www.scmp.com/economy/global-economy/article/3341391/age-trump-are-safe-haven-us-assets-not-so-safe-any-more?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3341391/age-trump-are-safe-haven-us-assets-not-so-safe-any-more?utm_source=rss_feed Tue, 27 Jan 2026 22:00:13 +0000 Associated Press Associated Press Canadian Prime Minister Mark Carney said on Tuesday that he told US President Donald Trump that he meant what he said in his speech at Davos, and told him Canada plans to diversify away from the United States with a dozen new trade deals. Carney rolled his eyes and rejected US Treasury Secretary Scott Bessent’s contention to Fox News that he aggressively walked back his comments at the World Economic Forum during a phone call with Trump on Monday. “To be absolutely clear, and I said this to the... https://www.scmp.com/news/world/united-states-canada/article/3341465/carney-rolls-eyes-us-treasury-chief-says-he-told-trump-he-meant-what-he-said-davos?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3341465/carney-rolls-eyes-us-treasury-chief-says-he-told-trump-he-meant-what-he-said-davos?utm_source=rss_feed Tue, 27 Jan 2026 18:26:49 +0000 Mia Nurmamat Mia Nurmamat An adviser to China’s central bank has publicly questioned the stability of the United States’ debt – highlighting growing concerns over Washington’s fiscal trajectory and the risk of a global spillover. “I’ve heard so many people telling me that [debt] as a share of GDP [gross domestic product] has been rising and probably will continue to rise. That’s probably not sustainable,” said Huang Yiping, an adviser to the People’s Bank of China, on Wednesday. The current institutional setting in the... https://www.scmp.com/economy/global-economy/article/3340716/china-central-bank-adviser-flags-us-debt-probably-not-sustainable?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3340716/china-central-bank-adviser-flags-us-debt-probably-not-sustainable?utm_source=rss_feed Thu, 22 Jan 2026 04:00:13 +0000 Mark Magnier Mark Magnier US Treasury Secretary Scott Bessent said on Tuesday that he met with Chinese Vice-Premier He Lifeng a day earlier on the sidelines of the World Economic Forum in Davos, Switzerland, in advance of US President Donald Trump’s much-anticipated speech to the global body on Wednesday. Bessent’s account of the sit-down between the main interlocutors over the past tumultuous year between Beijing and Washington suggests the pieces are in place to go ahead with a summit in Beijing between Trump and... https://www.scmp.com/news/world/united-states-canada/article/3340607/bessent-meets-chinas-he-lifeng-davos-praises-trade-progress-soybeans-rare-earths?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3340607/bessent-meets-chinas-he-lifeng-davos-praises-trade-progress-soybeans-rare-earths?utm_source=rss_feed Tue, 20 Jan 2026 15:42:44 +0000 Matthew Cheng,Emily Hung Matthew Cheng,Emily Hung The HK$4.4 billion (US$564 million) donated for Tai Po fire victims will grow gradually with interest earned from fixed deposits, the home affairs minister has told the Post, adding the money will also fund long-term resettlement. In an exclusive interview with the Post on Friday, Secretary for Home and Youth Affairs Alice Mak Mei-kuen said the fund’s accountant, the Treasury, had put an “appropriate amount” of the unallocated donated money into fixed deposits. “Some say, ‘you are just leaving... https://www.scmp.com/news/hong-kong/society/article/3340220/tai-po-fire-relief-fund-earn-interest-fixed-deposits-hong-kong-minister?utm_source=rss_feed https://www.scmp.com/news/hong-kong/society/article/3340220/tai-po-fire-relief-fund-earn-interest-fixed-deposits-hong-kong-minister?utm_source=rss_feed Sat, 17 Jan 2026 01:00:11 +0000 Xinyi Wu Xinyi Wu China trimmed its holdings of US Treasuries in November to the lowest level since 2008, diverging from a global trend that saw total foreign ownership of the debt instruments hit a record high. Analysts say the prospect of a politicised Federal Reserve chairmanship under Donald Trump’s presidency has deepened Beijing’s concerns over its exposure to American debt, with more cuts expected. Beijing’s stockpile fell to US$682.6 billion in November, down from US$688.7 billion in October, according to... https://www.scmp.com/economy/global-economy/article/3340164/china-dumps-more-us-debt-buys-other-assets-trump-targets-powell?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3340164/china-dumps-more-us-debt-buys-other-assets-trump-targets-powell?utm_source=rss_feed Fri, 16 Jan 2026 13:00:09 +0000 Khushboo Razdan Khushboo Razdan US President Donald Trump has put allies and trade partners on notice, invoking national security powers to ease China’s chokehold on critical minerals, warning global suppliers to negotiate agreements to secure reliable, diversified supplies for the US or face new trade barriers, including tariffs. In a proclamation signed on Wednesday, the “America first” president declared that the US’ reliance on foreign-processed critical minerals poses a national security threat. He directed US Trade... https://www.scmp.com/news/us/diplomacy/article/3339939/trump-sets-180-day-deadline-counter-chinas-control-critical-minerals?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3339939/trump-sets-180-day-deadline-counter-chinas-control-critical-minerals?utm_source=rss_feed Thu, 15 Jan 2026 00:09:22 +0000 Agence France-Presse,Reuters Agence France-Presse,Reuters US Treasury Secretary Scott Bessent announced on Friday that Argentina has fully repaid an emergency currency loan that generated “tens of millions” in profit for American taxpayers while stabilising a key regional ally. In a social media post, Bessent praised Argentinian President Javier Milei’s economic reforms and said the successful intervention showed that US President Donald Trump’s “Peace Through Economic Strength” policy was at work in Latin America. Argentina faced a severe liquidity... https://www.scmp.com/news/world/united-states-canada/article/3339402/argentina-repays-us-emergency-loan-boosting-trumps-economic-strategy-latin-america?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3339402/argentina-repays-us-emergency-loan-boosting-trumps-economic-strategy-latin-america?utm_source=rss_feed Fri, 09 Jan 2026 16:10:28 +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 Agencies Agencies Brazil’s former president Jair ‌Bolsonaro underwent “a phrenic nerve block procedure” on Saturday ‍to treat his persistent hiccups, his wife, Michelle Bolsonaro, said on social media. In a subsequent statement, the doctors treating Bolsonaro said they blocked ⁠the right phrenic nerve and scheduled a new procedure in 48 hours to block the left one. In medical literature, the phrenic nerve is described as a vital nerve originating ‍in the neck that controls the diaphragm, the primary muscle ‍for... https://www.scmp.com/news/world/americas/article/3337912/brazil-judge-puts-coup-plot-convicts-under-house-arrest-after-ex-police-commander-flees?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3337912/brazil-judge-puts-coup-plot-convicts-under-house-arrest-after-ex-police-commander-flees?utm_source=rss_feed Sat, 27 Dec 2025 18:03:25 +0000 Sylvia Ma Sylvia Ma China reduced its US Treasury holdings in October to its lowest level in 17 years, as mounting concerns over US debt sustainability and the Federal Reserve’s independence further eroded confidence in dollar-backed assets. The country’s stockpile fell to US$688.7 billion in October, down from US$700.5 billion in September, according to US Treasury Department data released on Thursday. October’s figure was the lowest level reported since November 2008, and marked a plunge of more than 47 per cent... https://www.scmp.com/economy/china-economy/article/3337010/china-cuts-us-treasury-holdings-lowest-level-2008-amid-debt-ceiling-fears?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3337010/china-cuts-us-treasury-holdings-lowest-level-2008-amid-debt-ceiling-fears?utm_source=rss_feed Fri, 19 Dec 2025 05:05:14 +0000 Bloomberg Bloomberg The US is preparing a fresh round of sanctions on Russia’s energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace agreement with Ukraine, according to people familiar with the matter. The US is considering options, such as targeting vessels in Russia’s so-called shadow fleet of tankers used to transport Moscow’s oil, as well as traders who facilitate the transactions, said the people who spoke on condition of anonymity to discuss private... https://www.scmp.com/news/world/united-states-canada/article/3336785/ukraine-war-us-readies-new-russia-sanctions-if-putin-rejects-peace-deal?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3336785/ukraine-war-us-readies-new-russia-sanctions-if-putin-rejects-peace-deal?utm_source=rss_feed Wed, 17 Dec 2025 10:31:25 +0000 Frank Tang Frank Tang Beijing and Washington held a call on Friday to discuss bilateral trade and economic ties, as a variety of practical issues – from soybean orders to computer chips – remain problematic despite the trade truce in October. Chinese Vice-Premier He Lifeng’s video call with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer was part of a bilateral negotiation mechanism started this year to address issues between the world’s two largest economies. The two sides had... https://www.scmp.com/news/us/economy-trade-business/article/3335425/chinas-he-lifeng-holds-constructive-call-trump-officials-bessent-and-greer?utm_source=rss_feed https://www.scmp.com/news/us/economy-trade-business/article/3335425/chinas-he-lifeng-holds-constructive-call-trump-officials-bessent-and-greer?utm_source=rss_feed Fri, 05 Dec 2025 18:59:50 +0000 Khushboo Razdan Khushboo Razdan US Treasury Secretary Scott Bessent on Wednesday described the United States as an ally to both mainland China and Taiwan, while at the same time asserting that its relationships have not shifted, hours after US President Donald Trump enacted legislation deepening US ties with the self-governed island. Asked about concerns among some in Washington about the Trump administration’s approach to the long-held policy of strategic ambiguity on the Taiwan issue at The New York Times DealBook Summit,... https://www.scmp.com/news/us/diplomacy/article/3335117/bessent-moves-placate-beijing-after-trump-signs-bill-deepening-ties-taiwan?utm_source=rss_feed https://www.scmp.com/news/us/diplomacy/article/3335117/bessent-moves-placate-beijing-after-trump-signs-bill-deepening-ties-taiwan?utm_source=rss_feed Wed, 03 Dec 2025 20:58:55 +0000 Bloomberg Bloomberg US Treasury Secretary Scott Bessent said that a key theme of his interviews for the next chair of the Federal Reserve has been simplifying the US central bank, which he indicated has become too complex in how it manages money markets. “One of the things in terms of the criteria that I’ve been looking for” has been the interplay of the Fed’s various instruments, Bessent said on CNBC Tuesday. “I realise the Fed has become this very complicated operation.” Bessent said his final second-round... https://www.scmp.com/news/world/united-states-canada/article/3334145/trump-eyes-christmas-deadline-name-new-fed-chair-bessent-says?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3334145/trump-eyes-christmas-deadline-name-new-fed-chair-bessent-says?utm_source=rss_feed Tue, 25 Nov 2025 16:12:29 +0000 Igor Patrick Igor Patrick Former president Mauricio Macri warned on Friday that Argentina could weaken its export base if it distances itself from China, sharpening his public split with President Javier Milei. Macri argued that China remains central to Argentina’s sales of soy, beef and other raw materials, goods the US already produces in abundance. “China is more complementary than the United States for Argentina. I do not think it is good to interrupt that process,” he said. A long-time Milei ally, Macri was... https://www.scmp.com/news/world/americas/article/3333767/ex-argentine-leader-warns-milei-cutting-china-ties-could-backfire-us-push-grows?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3333767/ex-argentine-leader-warns-milei-cutting-china-ties-could-backfire-us-push-grows?utm_source=rss_feed Fri, 21 Nov 2025 21:37:52 +0000 Bloomberg Bloomberg US officials are having early discussions on whether to let Nvidia sell its H200 artificial intelligence chips to China, according to people familiar with the matter, a contentious potential move that would mark a major win for the world’s most valuable company. US President Donald Trump’s team had held internal talks about H200 chip shipments to the Asian country in recent days, said the people, who requested anonymity to discuss a highly sensitive matter. No final decision had been made, the... https://www.scmp.com/news/world/united-states-canada/article/3333766/trump-team-considering-selling-nvidia-h200-chips-china-insiders-say?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3333766/trump-team-considering-selling-nvidia-h200-chips-china-insiders-say?utm_source=rss_feed Fri, 21 Nov 2025 20:51:20 +0000 Alice Li Alice Li China’s shipments of rare earth permanent magnets to the US surged to a nine-month high in October as the two countries engaged in a roller-coaster round of manoeuvring over export controls that led to an easing of trade tensions late last month. During the same period, exports to the European Union fell from the level recorded in September. China is the world’s largest supplier of permanent magnets – essential components in hi-tech products such as electric vehicles and defence systems – and... https://www.scmp.com/economy/china-economy/article/3333550/chinese-rare-earth-magnet-exports-us-hit-9-month-high-trade-war-resolves?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3333550/chinese-rare-earth-magnet-exports-us-hit-9-month-high-trade-war-resolves?utm_source=rss_feed Thu, 20 Nov 2025 09:00:09 +0000 David Okoronkwo David Okoronkwo After US President Donald Trump and Chinese President Xi Jinping shook hands in Busan last month, the headlines highlighted smiles and tariff rollbacks. Washington hailed it as a “massive victory”, saying China had pledged to buy 12 million tonnes of American soybeans by January and at least 25 million tonnes annually for the next three years. Futures on the Chicago Board of Trade surged and farmers in the US Midwest cheered. US Treasury Secretary Scott Bessent declared that “our great soybean... https://www.scmp.com/opinion/china-opinion/article/3332390/soybean-diplomacy-us-china-now-holds-remote-control?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3332390/soybean-diplomacy-us-china-now-holds-remote-control?utm_source=rss_feed Sat, 15 Nov 2025 21:30:09 +0000 Frank Tang,Khushboo Razdan Frank Tang,Khushboo Razdan Beijing’s top envoy in Washington has emphasised the need for “shared prosperity”, framing a possible summit between US President Donald Trump and Chinese President Xi Jinping next week in South Korea as an opportunity for cooperation rather than confrontation. Speaking at an event on Friday, China’s ambassador to the United States, Xie Feng, said that China and the US, as the world’s two largest economies, should improve communication and manage their differences. “In this chaotic world, we... https://www.scmp.com/news/china/diplomacy/article/3330299/chinese-envoy-calls-shared-prosperity-possible-xi-trump-summit-approaches?utm_source=rss_feed https://www.scmp.com/news/china/diplomacy/article/3330299/chinese-envoy-calls-shared-prosperity-possible-xi-trump-summit-approaches?utm_source=rss_feed Sat, 25 Oct 2025 04:41:10 +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 Bloomberg Bloomberg The Pentagon said it received an anonymous US$130 million donation to pay the military during the US government shutdown, a move the Trump administration might not legally be able to carry out. “On October 23, 2025, the Department of War accepted an anonymous donation of US$130 million under its general gift acceptance authority,” Chief Pentagon spokesman Sean Parnell said in a statement on Friday. “The donation was made on the condition that it be used to offset the cost of service members’... https://www.scmp.com/news/world/united-states-canada/article/3330283/anonymous-trump-friend-gifts-pentagon-us130-million-pay-us-troops-during-shutdown?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3330283/anonymous-trump-friend-gifts-pentagon-us130-million-pay-us-troops-during-shutdown?utm_source=rss_feed Fri, 24 Oct 2025 18:04:14 +0000 Reuters Reuters Indian refiners are poised to sharply curtail imports of Russian oil to comply with new US sanctions on two top Russian producers, industry sources have said, potentially removing a major hurdle to a trade deal with the United States. The change comes as India faces punishing 50 per cent tariffs on its exports to the US – with half of those duties in retaliation for Russian oil purchases – and negotiates a potential trade deal that could bring those tariffs in line with Asian peers in exchange... https://www.scmp.com/news/asia/south-asia/article/3330108/india-may-sharply-cut-russian-oil-imports-after-us-sanctions-sources?utm_source=rss_feed https://www.scmp.com/news/asia/south-asia/article/3330108/india-may-sharply-cut-russian-oil-imports-after-us-sanctions-sources?utm_source=rss_feed Thu, 23 Oct 2025 13:25:56 +0000 Ji Siqi,Luna Sun Ji Siqi,Luna Sun US President Donald Trump’s “badly misguided” tariff policy is impairing the efficiency of America’s economy despite its short-term resilience, and the damage will need to be repaired down the road, according to a former US Treasury secretary. “It’s a very unwise policy, and yet it seems to be the policy they’re committed to,” said Robert Rubin, who administered the Treasury from 1995 to 1999, during the Democratic presidential administration of Bill Clinton. Rubin, 87, was speaking via video... https://www.scmp.com/economy/global-economy/article/3330063/repairing-trumps-tariff-damage-will-take-time-warns-former-us-treasury-chief-rubin?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3330063/repairing-trumps-tariff-damage-will-take-time-warns-former-us-treasury-chief-rubin?utm_source=rss_feed Thu, 23 Oct 2025 12:00:09 +0000 Reuters Reuters Former Russian president Dmitry Medvedev on Thursday said it was now absolutely clear that the United States was Russia’s adversary and that US President Donald Trump’s recent steps on Ukraine amounted to an act of war against Russia. Trump said during the US election campaign that he would swiftly end the Ukraine war, which his administration has cast as a “proxy war” between Washington and Moscow, though he has recently expressed frustration about President Vladimir Putin. Trump, who has... https://www.scmp.com/news/world/russia-central-asia/article/3330084/trumps-actions-act-war-against-russia-ex-leader-medvedev-says?utm_source=rss_feed https://www.scmp.com/news/world/russia-central-asia/article/3330084/trumps-actions-act-war-against-russia-ex-leader-medvedev-says?utm_source=rss_feed Thu, 23 Oct 2025 10:10:52 +0000 Reuters Reuters Argentina’s central bank said on Monday it signed a US$20 billion exchange rate stabilisation agreement with the US Treasury Department, six days ahead of a midterm election. The central bank’s statement said the agreement sets forth terms for bilateral currency swap operations between the US and Argentina but it provided no technical details. “Such operations will allow the BCRA to expand its set of monetary and exchange rate policy instruments, including the liquidity of its international... https://www.scmp.com/news/world/americas/article/3329712/trump-ally-milei-formalises-us20-billion-currency-swap-argentine-vote?utm_source=rss_feed https://www.scmp.com/news/world/americas/article/3329712/trump-ally-milei-formalises-us20-billion-currency-swap-argentine-vote?utm_source=rss_feed Mon, 20 Oct 2025 15:01:49 +0000 Luna Sun,Mia Nurmamat Luna Sun,Mia Nurmamat Russia remained China’s top crude oil supplier in September, at a time when the United States is stepping up pressure on major economies to curb their reliance on energy from the Eurasian country. Imports from Russia rose 4.3 per cent in volume from August to 8.29 million tonnes in September, accounting for 17.5 per cent of China’s total crude imports, customs data showed – a sign of Beijing’s willingness to maintain trade links with Moscow despite geopolitical frictions. Chinese purchases of US... https://www.scmp.com/economy/china-economy/article/3329705/chinas-crude-oil-imports-russia-rise-september-despite-us-pressure?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329705/chinas-crude-oil-imports-russia-rise-september-despite-us-pressure?utm_source=rss_feed Mon, 20 Oct 2025 12:30:18 +0000 Alex Lo Alex Lo Talk about the pot calling the kettle black. After Beijing announced sweeping export controls last week on rare earths and other critical minerals, US Treasury Secretary Scott Bessent went ballistic. “Maybe there is some Leninist business model where hurting your customers is a good idea, but they are the largest supplier to the world,” he said. Someone from Beijing might have retorted that Washington has been running on some fascist business model whereby it is upending the entire global trade... https://www.scmp.com/opinion/china-opinion/article/3329222/us-threats-decouple-china-only-expose-its-own-vulnerability?utm_source=rss_feed https://www.scmp.com/opinion/china-opinion/article/3329222/us-threats-decouple-china-only-expose-its-own-vulnerability?utm_source=rss_feed Fri, 17 Oct 2025 12:30:08 +0000 Ji Siqi,Mandy Zuo Ji Siqi,Mandy Zuo As China and the United States accuse each other of provoking the latest escalation in trade tensions and disrupting the world economy, analysts say both share a goal in their war of words: applying maximum pressure until a deal is struck. In the past few days, Washington has framed the recent flare-up in relations as “China versus the world”, with US Treasury Secretary Scott Bessent suggesting on Wednesday that Beijing’s restrictions on the export of rare earth elements unveiled last week made... https://www.scmp.com/economy/china-economy/article/3329260/squeeze-beijing-and-washington-flex-muscles-narrative-war-heats?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3329260/squeeze-beijing-and-washington-flex-muscles-narrative-war-heats?utm_source=rss_feed Thu, 16 Oct 2025 15:00:10 +0000