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Switzerland says lower US tariffs to be applied retroactively from Nov 14

Switzerland says lower US tariffs to be applied retroactively from Nov 14

ZURICH, Dec 10 (Reuters) - The lowering of U.S. tariffs on Switzerland to 15% from 39% will be effective retroactively from November 14, the Swiss government said on Wednesday, delivering relief to businesses that had been saddled with the highest U.S. duties in Europe.
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US trade deal with Indonesia at risk of collapse, US official says

US trade deal with Indonesia at risk of collapse, US official says

By Andrea Shalal WASHINGTON, Dec 9 (Reuters) - A U.S. trade agreement reached with Indonesia in July is at risk of collapsing because Jakarta has backtracked on several commitments it made as part of the deal, a U.S. official said on Tuesday.
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FACT FOCUS: Trump blames Biden for the agricultural trade deficit. It's not that simple

FACT FOCUS: Trump blames Biden for the agricultural trade deficit. It's not that simple

As President Donald Trump announced a $12 billion farm aid package this week to help U.S. farmers hurt by tariffs, he placed responsibility for the U.S. agricultural trade deficit on former President Joe Biden
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Scott Bessent's Soybean Farm Claims Fact-Checked Amid Ethics Concerns

Scott Bessent's Soybean Farm Claims Fact-Checked Amid Ethics Concerns

Scott Bessent, a multi-millionaire and former hedge fund manager, faced scrutiny during a CBS interview for claiming to run a soybean farm. CBS host Margaret Brennan corrected Bessent, clarifying that he owned and invested in a farm rather than actively managing it. Bessent later admitted to divesting his $25 million farming holdings due to an ethics conflict, as his assets were not aligned with his role as a federal official. The discussion highlighted the challenges faced by American farmers, including lower profit margins and reduced market access, particularly in light of China's reduced soybean imports from the U.S. Bessent's comments came as the agricultural secretary announced a bridge payment for farmers to provide short-term relief.
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Treasury Secretary Bessent Completes Soybean Farm Divestiture to Meet Ethics Agreement

Treasury Secretary Bessent Completes Soybean Farm Divestiture to Meet Ethics Agreement

U.S. Treasury Secretary Scott Bessent announced that he has divested his interests in a soybean farm, fulfilling a requirement of the ethics agreement he signed upon joining the administration. Bessent, who previously owned up to $25 million in soybean and corn farmland in North Dakota, earned significant rental income from these properties. The divestiture was part of a broader commitment to avoid conflicts of interest by divesting various assets, including his Key Square Group hedge fund. Although the original deadline for these divestitures was April 28, 2025, Bessent completed the sale of his soybean farm ahead of an extended deadline of December 15, 2025.
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President Trump Announces $12 Billion Farm Aid Plan to Mitigate China Tariff Impact on U.S. Farmers

President Trump Announces $12 Billion Farm Aid Plan to Mitigate China Tariff Impact on U.S. Farmers

President Donald Trump has announced a $12 billion aid package aimed at supporting U.S. farmers affected by the trade tensions with China. The aid is designed to offset the financial strain caused by increased tariffs on Chinese goods, which have led to rising costs and shrinking export markets for American agricultural producers. The announcement was made during a White House roundtable with key figures including Treasury Secretary Scott Bessent and Agriculture Secretary Brooke Rollins. The plan allocates $11 billion through the Agriculture Department’s Farmer Bridge Assistance program, providing one-time payments to farmers growing row crops like soybeans and sorghum, which have been significantly impacted by China's retaliatory tariffs. An additional $1 billion is reserved for specialty crops. This move comes as China has not fully met its purchase commitments of U.S. soybeans, a situation exacerbated by the ongoing trade war.
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Treasury Secretary Scott Bessent Sells Soybean Farm to Comply with Ethics Agreement

Treasury Secretary Scott Bessent Sells Soybean Farm to Comply with Ethics Agreement

U.S. Treasury Secretary Scott Bessent announced on Sunday that he has sold his soybean farm, a move required under an ethics agreement he entered upon taking office. This announcement was made during his appearance on CBS' 'Face the Nation'. Bessent, whose net worth is estimated at over $500 million, previously owned corn and soybean farmland in North Dakota valued at up to $25 million. The New York Times reported that he earned up to $1 million annually in rental income from these farms. Despite missing several deadlines to divest his assets as mandated by the U.S. Office of Government Ethics, Bessent completed the sale just days before the latest extended deadline of December 15. His divestment comes amid a broader context of U.S.-China trade relations, with China recently agreeing to resume soybean purchases from the U.S. following a meeting between President Trump and Chinese President Xi Jinping.
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U.S. Soybean Futures Decline Amid Concerns Over Chinese Demand

U.S. Soybean Futures Decline Amid Concerns Over Chinese Demand

U.S. Soybean Futures Decline Amid Concerns Over Chinese Demand
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SNB to hold policy rate at zero through 2026; negative rates unlikely, say economists: Reuters Poll

SNB to hold policy rate at zero through 2026; negative rates unlikely, say economists: Reuters Poll

By Anant Chandak BENGALURU, Dec 8 (Reuters) - The Swiss National Bank will keep its policy rate unchanged at zero for a second consecutive meeting on Thursday and through 2026 as inflation hovers near the bottom of its target range, according to most economists in a Reuters poll who said the risk of
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Switzerland signals reduction in US tariffs to be retroactive from November 14

Switzerland signals reduction in US tariffs to be retroactive from November 14

ZURICH, Dec 9 (Reuters) - Switzerland announced on Tuesday a planned reduction of U.S. tariffs on Swiss goods would be backdated to when the two countries stuck a deal last month, although the announcement was later withdrawn, leaving details of the implementation unclear.
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Bessent divests from soybean farmland ahead of Trump aid announcement for farmers

Bessent divests from soybean farmland ahead of Trump aid announcement for farmers

Treasury Secretary Scott Bessent says he has divested from his North Dakota soybean farmland
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Trump to unveil $12 billion aid package for farmers hit by trade war

Trump to unveil $12 billion aid package for farmers hit by trade war

By Steve Holland and Leah Douglas WASHINGTON, Dec 8 (Reuters) - U.S. President Donald Trump will unveil a $12 billion aid package for American farmers affected by his trade policies on Monday, two White House officials said.