Trump, iPhone and tariff
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penny, Treasury Department
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Former Treasury Secretary Larry Summers issued a stark warning to President Donald Trump, urging the latter to retreat on the taxes, as he did with the tariffs. What Happened: On Wednesday, in a post on X,
US Treasury Secretary Scott Bessent said the Trump administration paused plans to create a sovereign wealth fund as the president prioritizes paying down the national debt.
Fox News co-anchor Bill Hemmer confronted Treasury Secretary Scott Bessent on Friday about concerns that President Donald Trump's "big, beautiful bill" could add trillions of dollars to the nation's debt.
President Trump on Friday threatened to put a 25% tariff on Apple products unless iPhones are manufactured in the United States. The threat delivered over social media could dramatically increase the price of iPhones, potentially hurting sales and the profits of one of America’s leading technology companies. Follow along live.
Wall Street recovered some of its decline on Friday, after remarks from U.S. Treasury Secretary Scott Bessent calmed investors rattled by President Donald Trump's latest salvo of tariff threats. Bessent in an interview said "several,
"Trump and Republicans are directly responsible for the spike in the 30-year Treasury bond yield and mortgage rates,” said the fourth highest ranking House Democrat.
President Trump’s top legislative priority was a victory for him and for Speaker Mike Johnson, who kept the president’s trust throughout tricky negotiations.
President Donald Trump told Treasury Secretary Scott Bessent in February to stop minting the coins, calling them "wasteful". There has been a long debate over the cost and usefulness of pennies in the US.