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#treasury

11 posts9 participants0 posts today

After #China unveiled steep retaliatory #tariffs on American exports on Wed, #Treasury Secy #ScottBessent issued a sharp & surprising response: “So what?”

The loss of China as an export market will deal a particularly hard blow to #agriculture in red states, hitting the voters who helped #Trump win. On Wed, Trump ratcheted US tariffs on China even higher. #Farmers are concerned that a protracted #TradeWar w/China will cut off ties w/their largest export market.

#economy
nytimes.com/2025/04/10/busines

The soybean industry is one of the sectors most concerned about tariff retaliation.
The New York Times · Trump’s Tariff Fight With China Poses New Threat to US FarmersBy Alan Rappeport
Replied in thread

@JayinKyiv

Isn’t there a big selloff in US Treasury bonds ongoing right now? This is definitely what Putin wants:

"US adding a tax to foreign holders of American income assets such as US Treasures is something you'd do if you wanted to destroy USD reserve currency status.”

Continued thread

The order was the latest admin victory in #SCOTUS in a case arising from #Trump’s blitz of executive orders. Like others, though, it was technical & tentative. The justices said their order would remain in place while the case moved forward.
The case concerned a preliminary injunction issued last month by a federal judge in California that ordered the admin to reinstate >16k probationary employees it had fired from the #Pentagon, the #Treasury, & the #Agriculture, #Energy, #VA & #Interior Depts.

Continued thread

In a 2-1 vote, the 4th U.S. Circuit Court of Appeals lifted a stay imposed by a Maryland federal judge against the #Musk’s #DOGE.

The appeals court also voted 8-7 against considering the matter "en banc," meaning all active judges would decide.

#Trump#law#InfoSec

WTF

#Musk's #DOGE team can access government #data for now, appeals court rules

A divided federal appeals court set aside a court order that had blocked the government downsizing team created by #Trump & led by #ElonMusk from seizing sensitive data from the #Treasury Department, #Education Department & Office of Personnel Management [#OPM].

#law #InfoSec #NationalSecurity #Privacy #AbuseOfPower
reuters.com/world/us/musks-dog

What the fuck were you thinking, Scott Bessent?! You’ve destroyed your reputation in six weeks! Six fucking weeks! LOL, motherfucker!

Top Trump Official So Freaked Out by Tariffs, He Wants to Quit | The New Republic
newrepublic.com/post/193634/do

The New Republic · Top Trump Official So Freaked Out by Tariffs, He Wants to QuitAnd so the revolving door of Donald Trump’s Cabinet members begins.