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Does China Have Enough U.S. Dollars to Survive the Trade U.S. Trade War…

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The Chinese government is officially sitting on the world’s largest stockpile of foreign exchange reserves, but it has been scrambling recently to block backchannels for capital outflows as trade tensions with the United States increase. Beijing’s increasing scrutiny of the usage of the US dollar by Chinese companies and individuals, in the absence of any […]

Treasury Department Misses Congressional Deadline for Trump’s Tax Returns, Cites ‘Constitutional Concerns’…

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The Treasury Department responded to a “final” April 23 congressional deadline set by a top House Democrat to turn over President Donald Trump’s tax returns with a letter detailing constitutional concerns, setting the stage for a possible court battle between Congress and the administration. The decision, which was widely expected, could potentially prompt House Ways […]

U.S. Treasury Secretary Says U.S. Preparing for ‘Hard Brexit’…

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U.S. Treasury Secretary Steven Mnuchin on Tuesday told lawmakers the Trump administration is preparing for the possibility of a “hard Brexit”. “I think at this point we need to be prepared for a hard Brexit as a very realistic outcome,” Mnuchin said at a hearing of the U.S. House Committee on Financial Services. The United […]

The Federal Deficit Ballooned at Start of New Fiscal Year…

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The federal budget deficit ballooned rapidly in the first four months of the fiscal year amid falling tax revenue and higher spending, the Treasury Department said Tuesday, posing a new challenge for the White House and Congress as they prepare for a number of budget battles. The deficit grew 77 percent in the first four months […]

Treasury Drops Sanctions Against Rusal After Striking Deal with Russian Oligarch…

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Offering some relief to industrial firms in the US and Europe, which have struggled with higher aluminum prices (on top of Trump’s tariffs on aluminum entering the US), the Treasury announced on Wednesday that it has struck a deal with Russian billionaire Oleg Deripaska to remove sanctions on Rusal, En+ Group Plc and JSC EuroSibEnergo […]

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