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US Treasury

US Treasury
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 contributing to global financial stability.
Illustration: Lau Ka-kuen
Banking & finance

Trump says the US dollar can move like a yo-yo. Will Treasuries be left hanging?

With the US president levelling threats at enemies, allies and his own central bank, alternatives like gold and Chinese assets are gaining appeal.

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Canada

Carney rolls eyes at Bessent, tells Trump he meant what he said at Davos

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US-China trade war

‘Not sustainable’: China central bank adviser flags US debt risk

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US-China relations

Bessent cites trade progress after meeting China’s He Lifeng in Davos

US Treasury chief says rare earths are flowing and China is buying soybeans as talks move towards an April Trump-Xi meeting.

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US Treasury Secretary Scott Bessent attends the 56th annual World Economic Forum meeting in Davos, Switzerland, on Tuesday. Photo: Reuters
Hong Kong’s Tai Po fire tragedy

Exclusive | Tai Po fire relief fund to earn interest from fixed deposits: Hong Kong minister

Home affairs chief Alice Mak says government ‘not that foolish’ to leave funds idle after some economists suggest investing money.

US-China relations

China dumps more US debt, buys other assets as Trump targets Powell

Beijing’s Treasury holdings hit a September 2008 low, and analysts point to fears over Fed independence and debt sustainability, while gold’s appeal rises.

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US-China trade war

Trump sets 180-day deadline to counter China’s control of critical minerals

US government warns global suppliers to negotiate agreements to secure reliable, diversified supplies for the US or face new trade hurdles.

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In a proclamation signed on Wednesday, US President Donald Trump declared that the US’ reliance on foreign-processed critical minerals poses a national security threat. Photo: Reuters
United States

US says Argentina has ‘fully repaid’ currency lifeline

Treasury Secretary Scott Bessent says the loan is paid in full, netting millions in profit for the US while stabilising Javier Milei’s government.

US-China relations

US sanctions Chinese companies and tankers with Venezuela links

The move could be a signal to Beijing to steer clear of the stand-off between the Trump administration and the Maduro government.

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Brazil

Brazil’s former president Bolsonaro has surgery to treat hiccups, wife says

Bolsonaro, 70, had been hospitalised on Wednesday for hernia surgery. In September, he was jailed for 27 years for ‍plotting a coup.

Former Brazilian president Jair Bolsonaro. Photo: AFP
US-China relations

China cuts US Treasury holdings to lowest level since 2008

The stockpile has now fallen to nearly half its November 2013 peak, financial data shows, as long-term sell-off continues.

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China is now in third place among foreign US Treasury holders, behind Japan and the United Kingdom. Photo: dpa
Ukraine war

Trump administration readies new sanctions if Putin rejects peace deal

The new measures could arrive this week, targeting the tankers and traders fuelling Putin’s war as peace talks reach a critical stage.

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US-China trade war

China’s vice-premier has ‘constructive’ call with US officials Bessent and Greer

Both sides agree to promote the development of bilateral trade ties to ‘expand the list for cooperation and shorten the list of problems’.

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US-China relations

Bessent calls Beijing an ‘ally’ after Trump signs bill on ties with Taiwan

US Treasury Secretary tries to ease further tension after Trump signs act aimed at regularly reviewing and updating guidelines with Taiwan.

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US Treasury Secretary Scott Bessent speaks during The New York Times DealBook Summit, at the Lincoln Centre, New York, on Wednesday. Photo: Getty Images via AFP
United States

Trump eyes Christmas deadline to name new Fed chair: Bessent

The US treasury secretary says simplifying the Fed is key, as he conducts interviews with the five candidates to succeed Chair Jerome Powell.

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US Treasury Secretary Scott Bessent speaks to the media, following trade talks between the US and China, in Kuala Lumpur, Malaysia on October 26. Photo: Reuters
US-China relations

Ex-Argentine leader warns against cutting China ties to improve US relations

Macri argues Argentina’s farm and commodity sales rely on China even as current president Javier Milei pursues broader deal with Washington.

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US-China relations

Trump team considering selling Nvidia H200 chips to China, insiders say

While still in the early stages, the talks mark a big departure from the administration’s public stance on semiconductor export controls.

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US-China trade war

Chinese rare earth magnet exports to US hit 9-month high as trade war resolves

Shipments of the valuable components to the US increased in October, while those sent to the European Union fell from their September levels.

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Rare earth magnets in Beijing. Photo: AP
US-China relations

Opinion | In ‘soybean diplomacy’ with the US, China now holds the remote control

China, no longer reliant on US soybeans, has leverage: resuming purchases to calm tensions or cutting them when relations fray.

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US-China trade war

Chinese envoy calls for ‘shared prosperity’ as possible Xi-Trump summit approaches

China’s ambassador in Washington frames expected meeting as an opportunity for cooperation rather than confrontation.

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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.

Colombian President Gustavo Petro speaks during a press conference in Bogota on Thursday. Photo: Reuters
Donald Trump

Anonymous Trump ‘friend’ donates US$130 million to pay troops during shutdown

It is unclear if the move is legal, as US law generally forbids earmarked gifts from individuals to the government.

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The Pentagon. File photo: Reuters
India

India may sharply cut Russian oil imports after US sanctions: sources

The potential change could remove a major hurdle to a trade deal with the US, with Indian refiners reportedly reviewing their Russian oil purchases.

US-China trade war

Repairing Trump’s tariff ‘damage’ will take time, warns former US Treasury chief

During Bund Summit in Shanghai, Robert Rubin flags long-term economic implications of Trump’s policies, including for the US dollar’s global standing.

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Russia

Medvedev slams Trump’s actions as ‘act of war’ against Russia

The US is now Moscow’s adversary and Trump has ‘fully aligned himself with loony Europe’, warns the former Russian president.

Russian Security Council Deputy Chairman and the head of the United Russia party Dmitry Medvedev speaks at a meeting of the United Russia party programme commission in Moscow, Russia, on October 1. Photo: Sputnik Pool Photo via AP
Americas and the Caribbean

Argentina formalises US$20 billion lifeline from Trump as Milei faces poll test

Despite the currency swap being formalised by Argentina’s central bank, Trump threatens to withdraw aid if Milei is defeated in the midterms.

US President Donald Trump greets President of Argentina Javier Milei as he arrives in Washington earlier this month. Photo: TNS
China-Russia relations

‘Act of defiance’: China’s crude oil imports from Russia rise despite US pressure

Shipments from Indonesia and Brazil are also up, while purchases of US crude remain suspended, customs data shows.

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US-China relations

As I see it | US threats to decouple from China only expose its own vulnerability

Washington blames Beijing for being unreliable but, for Chinese policymakers, export controls are merely a response to US trade provocations.

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