Latest U.S. Department of the Treasury News
Chinese firms eye Morocco as way to cash in on US electric vehicle subsidies
TANGIERS, Morocco (AP) — After the United States passed new subsidies designed to boost domestic electric vehicle production and cut into Beijing’s supply chain dominance, Chinese manufacturers began investing in an unlikely place: Morocco. In the rolling hills near Tangiers and...
New US sanctions against Russia target weapons development, ban uranium imports for nuclear power
WASHINGTON (AP) — The United States on Wednesday imposed new sanctions on hundreds of companies and people tied to Russia's weapons development program, more than a dozen Chinese entities accused of helping Moscow find workarounds to earlier penalties, and individuals linked to the death of...
Thai plastics firm will pay $20 million to settle with U.S. over Iran sanctions violations
WASHINGTON (AP) — A Bangkok -based plastics firm has agreed to pay $20 million to settle with the U.S. over 467 “egregious” violations of Iran sanctions, the U.S. Treasury announced on Friday. SCG Plastics Co. used U.S. banks to process $291 million in sales of Iranian...
Lebanon says Israeli agents likely killed Hezbollah-linked currency exchanger near Beirut
BEIT MERI, Lebanon (AP) — Lebanon’s interior minister alleged Wednesday that the mysterious abduction and killing of a Hezbollah-linked Lebanese currency exchanger in a villa on the edge of a quiet mountain resort town earlier this month was likely the work of Israeli intelligence operatives. ...
Treasury wants to boost foreign investment review powers, as Congress dissects Nippon, TikTok deals
WASHINGTON (AP) — U.S. Treasury wants to enhance the power of a little-known, secretive government committee to review deals made between U.S. firms and foreign investors. This comes as high-profile deals involving foreign investment in the U.S. — like Chinese firm ByteDance’s...
A Lebanese man sanctioned by the US over alleged Hamas links is found shot dead near Beirut
BEIRUT (AP) — A Lebanese man sanctioned by the U.S. for his alleged links with the Palestinian group Hamas was found dead Wednesday after he went missing for a week, Lebanese state media and judicial officials said. Mohammad Srour, 57, was sanctioned by the U.S. in August 2019 for...
From overcapacity to TikTok, the issues covered during Janet Yellen's trip to China
BEIJING (AP) — U.S. Treasury Secretary Janet Yellen and her team are leaving China and returning to Washington after trying to tackle the major questions of the day between the countries. Here's a look at what she tried to accomplish, what was achieved, and where things stand for the world's two...
Yellen calls for level playing field for US workers and firms during China visit
GUANGZHOU, China (AP) — U.S. Treasury Secretary Janet Yellen called on China on Friday to address manufacturing overcapacity that she said risks causing global economic dislocation, and to create a level playing field for American companies and workers. Starting a five-day visit in...
