United States Treasury Secretary Steven Mnuchin has made calls to the heads of the country's six largest banks, a move to reassure investors after huge falls in US stocks. Last week, US stocks suffered one of the worst weekly falls in a decade as an interest rate rise and US-China trade tensions rattled markets.
A senior US official has held talks with Saudi Arabia's crown prince in Riyadh, despite growing concern over the Saudis' role in the murder of journalist Jamal Khashoggi. US Treasury Secretary Steven Mnuchin met Mohammed bin Salman on Monday.
The United States federal budget deficit rose in fiscal 2018 to the highest level in six years as spending climbed, the Trump administration said. The deficit jumped to US$ 779 billion, US$ 113 billion or 17% higher than the previous fiscal period, according to a statement from Treasury Secretary Steven Mnuchin and Office of Management and Budget Director Mick Mulvaney.
United States has refrained from labeling China a currency manipulator in a move which may help defuse escalating tension over trade between the two countries. President Trump has previously accused China of keeping its currency weak to make its exports more competitive.
A number of top US officials have denied that they are the author of a damning anonymous editorial that attacks President Donald Trump. The New York Times article, said to be written by a senior White House official, point out Mr Trump's appointees are trying to stifle his agenda.
Global trade conflicts triggered by the protectionist policies of US President Donald Trump are set to dominate this weekend's meeting of Group of 20 finance ministers in Buenos Aires.
China said on Sunday it wouldn’t step up its purchases of United States products if President Donald Trump goes ahead with his threat to tax billions of dollars’ worth of Chinese imports. White House advisers insisted on fundamental changes in ties between the world’s two biggest economic powers.
United States has imposed sanctions on Venezuela's president, Nicolas Maduro, over what it called his illegitimate election of an assembly to rewrite the constitution. All of Maduro's assets in the United States are frozen and Americans are forbidden from doing any business with him.
United States Treasury Secretary Steven Mnuchin said on Thursday the Trump administration plans to release a major tax reform plan very soon. While the secretary has more recently backed away from meeting his own August deadline, Mnuchin's comments on Thursday reinforced his own commitment to finalize an overhaul of U.S. tax policy in 2017.
A bitterly divided Senate on Monday confirmed Steven Mnuchin as United States treasury secretary despite strong objections by Democrats that the former banker ran a foreclosure machine when he headed OneWest Bank. Republicans said Mnuchin's long tenure in finance makes him qualified to run the department, which will play a major role in developing economic policy under President Donald Trump.