Politics

    Photo: Scott Bessent, US treasury secretary, during the Federal Reserve Board Community Bank Conference in Washington, DC, US, on Thursday, Oct. 9, 2025. The conference focuses on key issues facing the community bank sector. Photographer: Eric Lee/Bloomberg via Getty Images

    Global markets tumble as Beijing imposes new ban on U.S. shipping and Bessent vows China ‘will be hurt the most’ if it doesn’t surrender

    China holds an unexpectedly strong hand in the trade war, and the U.S.’s tariffs have been counterintuitively positive for China.

    October 14, 2025

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