Scott Bessent | DD News

March 20, 2026 11:56 AM

Global oil prices fall up to 3% as US signals possible easing of Iran sanctions

Global oil prices declined on Friday after the United States signalled a potential easing of sanctions on Iranian crude, amid efforts to stabilise supplies and ensure smooth shipping through the Strait of Hormuz. Brent Crude futures fell as much as 3.39 per cent to an intra-day low of $104.96 per barrel, while West Texas Intermediate (WTI) crude declined 3.22 per cent to $92.47, also touching an intra-day low. The drop in oil prices followed remarks by US Treasury Secretary Scott Bessent, who ...

March 20, 2026 10:12 AM

US may remove sanctions on Iranian oil stranded in tankers, Bessent says

The U.S. may soon remove sanctions on Iranian oil stranded on tankers at sea, Treasury Secretary Scott Bessent said on Thursday as Washington seeks to curb prices soaring over Iran's closure of the Strait of Hormuz. "In the coming days, we may unsanction the Iranian oil that's on the water. It's about 140 million barrels," Bessent told Fox Business Network's "Mornings with Maria" program. He said the release of the sanctioned Iranian oil into global supplies would help keep oil prices down for...

February 21, 2026 9:17 AM

Trump pivots to new 10% global tariff, new probes after Supreme Court setback

U.S. President Donald Trump moved swiftly on Friday to replace tariffs struck down by the Supreme Court with a temporary 10% global import duty for 150 days and ordered new investigations under other laws that could allow him to re-impose the tariffs. Trump signed executive orders late on Friday to impose new tariffs starting on Tuesday under Section 122 of the Trade Act of 1974, partly replacing tariffs of 10% to 50% under the 1977 International Emergency Economic Powers Act that the top court...

September 15, 2025 4:21 PM

US, China close to TikTok deal but it could depend on trade concessions, Bessent says

The United States and China are close to reaching an agreement on social media platform TikTok but a deal could hinge on Chinese demands for trade concessions, U.S. Treasury Secretary Scott Bessent said on Monday before entering a second day of talks in Madrid. The U.S. and China delegations are discussing the divestment from TikTok by Chinese owner Bytedance as part of broader talks on tariffs and economic policy. "Our Chinese counterparts have come with a very aggressive ask," Bessent told r...

July 18, 2025 12:13 PM

US eyes ‘back to basics’ revamp of G20 when it assumes presidency next year

The United States aims to pare the Group of 20 major economies back to its financial roots next year when it takes over the rotating presidency from South Africa, sources familiar with the Trump administration's plans said. Washington has scaled back its participation this year, with Treasury Secretary Scott Bessent skipping a G20 finance chiefs' meeting that started in Durban, South Africa, on Thursday, his second absence from an event this year. Experts and administration sources say the abs...

April 24, 2025 11:58 AM

U.S. Treasury Secretary Bessent calls China tariffs unsustainable as Washington eyes de-escalation

U.S. Treasury Secretary Scott Bessent said on Wednesday that high tariffs between the United States and China are not sustainable, as President Donald Trump's administration signaled openness to de-escalating a trade war between the world's two largest economies that has raised fears of recession. U.S. stocks rallied on hopes that the two countries might lower the steep trade barriers they have erected over the past month, though there was no sign that negotiations might start anytime soon. Be...