Latest U.S. Department of the Treasury News
Don't ignore us: Backed by pope, poorer nations use COP28 summit to press rich world on climate
DUBAI, United Arab Emirates (AP) — Countries once colonized by empires are striking back on global warming — and they have the pope's blessing. Leaders of developing nations jumped into Saturday's high-level speeches at the U.N. climate summit to press rich industrial countries...
New US rules, aimed at curbing China, could make it harder for EV buyers to claim a full tax credit
WASHINGTON (AP) — Americans could have a harder time finding electric vehicles that qualify for a full $7,500 federal tax credit under new rules proposed Friday that are likely to hinder President Joe Biden’s goal that half of new passenger vehicles sold in the U.S. run on electricity by 2030....
Argentina's libertarian president-elect picks a former Central Bank chief as his economy minister
BUENOS AIRES, Argentina (AP) — Argentina’s president-elect, Javier Milei, announced Wednesday he has chosen Luis Caputo, a former finance minister and Central Bank chief known as an expert in markets, to lead the Economy Ministry when the right-wing leader takes office on Dec. 10. ...
US sanctions financial network tied to Iranian oil sales
WASHINGTON (AP) — The U.S. on Wednesday said it imposed a new round of sanctions on a group of 20 people and firms allegedly involved in a financial facilitation network for the benefit of the Iranian military. The Treasury Department sanctions impact firms and people spanning Hong...
US imposes new sanctions over Russian oil price cap violations, Kremlin influence in the Balkans
WASHINGTON (AP) — The U.S. Treasury on Thursday imposed a new round of sanctions on firms and ships that used American service providers to carry Russian crude oil in violation of the multinational price cap — and imposed another set of sanctions on a group of Balkan people and firms tied to...
A third round of US sanctions against Hamas focuses on money transfers from Iran to Gaza
WASHINGTON (AP) — The United States on Tuesday said it imposed a third round of sanctions on a group of Hamas officials, members of the Palestinian Islamic Jihad who work to transfer money from Iran to Gaza, and a Lebanese money exchange service that facilitates the transfers. The...
This year's Biden-Xi summit has better foundation but South China Sea and Taiwan risks won't go away
BEIJING (AP) — The course of events in the year since the last meeting between Presidents Joe Biden and Xi Jinping offers cautious hope that they will have better luck this time around. But it also shows how easily any agreement they reach could once again veer off course. The...
Moody's lowers US credit outlook, though keeps triple-A rating
WASHINGTON (AP) — The credit rating agency Moody’s Investors Service lowered its outlook on the U.S. government's debt on Friday to “negative” from “stable,” citing the cost of rising interest rates and political polarization in Congress. Moody's retained its top...
Yellen says her talks with Chinese finance chief laid groundwork for Biden's meeting with Xi
SAN FRANCISCO (AP) — U.S. Treasury Secretary Janet Yellen said Friday that she and her Chinese counterpart agreed to work toward a “healthy economic relationship,” during two days of talks that she said helped lay the groundwork for a productive meeting next week between President Joe Biden...
Ransomware attack on China's biggest bank disrupts Treasury market trades
BEIJING (AP) — The U.S. Treasury says it is aware of a cybersecurity attack at China's biggest bank that reportedly disrupted trading in the U.S. Treasury market and is in contact with financial regulators. A Treasury spokesperson said Friday that the department is monitoring the...
