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United States Department of the Treasury

United States Department of the Treasury
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 crucial role in shaping both domestic and global economic policies, acting as a steward of the US financial system.
US sanctions have targeted Hong Kong firms over Venezuela oil tanker links. Photo: Juan Carlos Hernandez
Hong Kong economy

Hong Kong firm sanctioned by US in Venezuela crackdown found to use bogus address

Post finds vacant offices, shared secretaries in US-hit Hong Kong firms tied to Venezuelan oil exports, as namesake local company fears backlash.

US-China relations

US sanctions Chinese companies and tankers with Venezuela links

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United States

Trump declares fentanyl a ‘weapon of mass destruction’

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US-China trade war

US seeks ‘constructive’ reset with China as trade tensions ease: Greer

Trade envoy says Washington aims to steady ties after a bruising tariff year, even as disputes over minerals and AI chips persist.

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US Trade Representative Jamieson Greer during an interview at the White House in October. Photo: Reuters
Americas and the Caribbean

US labels Venezuelan group terrorists amid massive military build-up

Venezuela rejects US terrorist designation as a ‘ridiculous lie’ aimed at paving the way for an ‘illegitimate’ US military intervention.

Japan

Cambodian tycoon linked to scam empire owned luxury condo in Tokyo

The Prince Holding Group boss, who is accused of running a conglomerate built on cyberscam operations, visited Japan frequently.

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Middle East

US sanctions firms from China to India over Iranian weapons

The US also targeted Ma Jie, an individual based in China, who is accused of helping Iranian defence officials meet Chinese suppliers.

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Iranians visit an exhibition showcasing missile and drone achievements in Tehran on Wednesday. Photo: AFP
Scams and swindles

Editorial | Silver lining in sprawling scam case is cross-border cooperation

The brazen criminal case involving Chen Zhi shows the importance of joint global efforts against cybercrime and transnational scams.

Syria

Syria joins alliance against Isis after Trump hosts ex-jihadist president

President Ahmed al-Sharaa’s White House visit caps a remarkable turnaround for a former jihadist who once had a US$10 million bounty on his head.

North Korea

North Korea slams US for ‘wicked’ hostility over sanctions linked to cybercrime

The sanctions are part of US President Donald Trump’s strategy of applying pressure before negotiations, an analyst says.

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North Korea’s state-sponsored hacking schemes had stolen billions of dollars of mostly digital assets to help finance the country’s nuclear weapons programme, the US Treasury Department said. Photo: Shutterstock
United States

US targets Chinese in North Korea-related sanctions over money laundering

A North Korean tech firm accused of using Chinese nationals as banking proxies to obfuscate the origin of funds was among those targeted.

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A man watches footage of a North Korean missile test in Seoul in March. The US Treasury said the sanctions are aimed at cutting off funding for North Korea’s weapons programmes. Photo: TNS
Singapore

Singapore seizes US$115 million in assets linked to tycoon behind scam hub

Police said probe into the Prince Group boss started last year after receiving intelligence from the Suspicious Transaction Reporting Office.

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Americas and the Caribbean

US sanctions Colombia president over drugs, amid escalating row with Trump

Gustavo Petro has accused the US president of carrying out ‘extrajudicial executions’ by striking alleged drug-trafficking vessels.

US-China trade war

Trump and Xi’s shock tactics see trade war remain in a stalemate

Former government officials and analysts believe this is the price you pay when diplomatic negotiation fails and compromise is ignored.

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Former government officials and analysts say that US President Donald Trump and Chinese President Xi Jinping are ignoring diplomatic norms as the trade war intensifies. Photo: AFP
United States

Shutdown costing US economy US$15 billion a day, Treasury chief Bessent says

The shutdown is starting to ‘cut into muscle’ and is slowing down a wave of investment, Bessent says.

The US Capitol is seen during the government shutdown on Wednesday. Photo: Reuters
Donald Trump

Trump orders Pentagon to use ‘all available funds’ to pay troops despite shutdown

No similar action seems to be coming for federal workers, thousands of whom are set to be fired during the funding lapse.

Americas and the Caribbean

US launches US$20b financial lifeline for Argentina, buys pesos in rare move

US helps prop up Argentina’s faltering finances, and boost political ally President Javier Milei for midterm elections.

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US-China relations

US imposes sanctions on China refinery over Iran oil purchases

The US believes Iran’s oil networks help Tehran fund its nuclear and missile programmes and support militant proxies in the Middle East.

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An Iranian oil facility on Khark Island is seen in March 2017. Photo: TNS
Donald Trump

US considers US$1 Trump coin to mark 250th independence celebrations

A potential design shows Trump raising his fist, with the words ‘fight, fight, fight’ – what he said after surviving an assassination bid.

US-China relations

US judge upholds Pentagon listing of DJI as Chinese military-linked firm

The Shenzhen-based company is the global leader in drone production and accounts for more than 50 per cent of US commercial sales.

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US-China relations

China and US agree to target money launderers linked to fentanyl trade

Cracking down on finances from the illegal trade is an area of ‘extreme agreement’, Scott Bessent says after Madrid trade talks.

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Fentanyl has killed tens of thousands of Americans. Photo: TNS
US-China trade war

China-US trade talks: Who will buckle first amid mutual pain?

More signs of cooling in China’s economy may stiffen US resolve at Madrid trade talks, while stagflation risks in the US could similarly toughen Beijing’s negotiating stance.

Trade negotiators in Madrid. (Photo: US Treasury/Handout via Reuters)
United States

US sanctions shipping network for smuggling Iran oil

The organisation is accused of covertly blending Iranian oil with Iraqi oil, then intentionally marketing it as solely of Iraqi origin.

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United States

Trump implores banks to step up monitoring of China money laundering linked to fentanyl

Treasury advisory highlights how informal Chinese money-laundering operations allow Mexican drug cartels to bypass financial safeguards.

China-Middle East relations

China urges ‘dialogue’ to resolve Iran nuclear issue as new sanctions loom

Beijing says it will continue to ‘play a constructive role’ following foreign vice-minister Ma Zhaoxu’s call with his Tehran counterpart.

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A gas flare on an oil production platform in Iran’s Soroush on July 25, 2005. Photo: Reuters
China technology

My Take | Washington has already lost dirty chip war but does not know it yet

Selling China subpar chips will not make it dependent on the United States but instead spur it to produce more and better ones.

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Flags of China and US are displayed on a printed circuit board with semiconductor chips. Photo: Reuters
China exports

China’s rare earth exports swell in June as Beijing relaxes controls

Following talks with the US thought to include reductions in critical mineral export restrictions, China reports 60 per cent jump in June shipments.

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