A simple principle underpins a contentious Thursday decision by the U.S. and key allies to tap profits from Russian sovereign assets in support of Ukraine: Moscow must make reparations. “Russia has to pay,” European Council President Charles Michel told CNBC’s Steve Sedgwick, after the leaders of the Group of Seven (G7) major democracies agreed in … Read more
Traders work on the floor of the New York Stock Exchange on April 5, 2024. Spencer Platt | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. … Read more
U.S. Treasury Secretary Janet Yellen speaks to the Economic Club of New York in New York City, U.S., June 13, 2024. Brendan McDermid | Reuters U.S. Treasury Secretary Janet Yellen said Thursday that the $50 billion loan to Ukraine that President Joe Biden and other leaders of Group of Seven highly developed nations have agreed … Read more
America’s economic engagement in Indo-Pacific “isn’t about China” but for strengthening its presence in the region, U.S. Commerce Secretary Gina Raimondo told CNBC. President Joe Biden launched the Indo-Pacific Economic Framework for Prosperity, involving14 countries, about two years ago, for economic and trade cooperation among the member states. The IPEF was also seen as … Read more
IRS Commissioner Danny Werfel testifies before the House Appropriations Committee on May 07, 2024 in Washington, DC. Kevin Dietsch | Getty Images The IRS will expand Direct File, its free tax filing program, nationwide starting in 2025, the agency and the U.S. Department of the Treasury announced on Thursday. “After a successful pilot, we are … Read more
Frankfurt: Finance officials from the Group of Seven rich democracies said they had moved toward agreement on a US proposal to squeeze more money for Ukraine from Russian assets frozen in their countries. But the ministers left a final deal to be worked out ahead of a June summit of national leaders. “We are making … Read more
U.S. President Joe Biden meets Chinese President Xi Jinping on the sidelines of the G-20 leaders’ summit in Bali, Indonesia, on Nov. 14, 2022. Kevin Lamarque | Reuters The Biden administration announced stiff new tariff rates Tuesday on $18 billion worth of Chinese imports. The White House said the tariff hikes were necessary to protect … Read more
Unidentified men are carrying a model of Iran’s first-ever hypersonic missile, Fattah, past a mosque during a gathering to celebrate the IRGC UAV and missile attack against Israel, in Tehran, Iran, on April 15, 2024. Morteza Nikoubazl | Nurphoto | Getty Images The Biden administration on Thursday announced new sanctions targeting Iran’s drone program for … Read more
President Joe Biden and his Chinese counterpart Xi Jinping are expected to meet on the sidelines of the Asia-Pacific Economic Cooperation summit in San Francisco in November. Saul Loeb | Afp | Getty Images President Joe Biden is calling on the U.S. Trade Representative to triple the China tariff rate on steel and aluminum imports … Read more
Janet Yellen, US treasury secretary, during a news conference at the Treasury Department in Washington, DC, US, on Tuesday, April 16, 2024. Tierney L. Cross | Bloomberg | Getty Images Treasury Secretary Janet Yellen said Tuesday that the U.S. is preparing new sanctions on Iran after the country launched hundreds of drones and missiles at … Read more
