Treasury Secretary Scott Bessent

Congratulations to @federalreserve, @USOCC, and @FDICgov, on today’s Basel Capital Proposal. Today’s outdated capital requirements are needlessly complex and misaligned with their actual objective. Rather than solving for safety and soundness, they are pushing lending out of the regulated banking system while simultaneously impeding economic growth. The last Administration aimed to hijack the Basel modernization effort to reverse-engineer ever-higher capital requirements without rhyme or reason. Under President Trump’s leadership, we have taken a principled and calibrated approach that simplifies capital requirements and fosters a level playing field for banks of all sizes. If finalized, this proposal would advance those goals, fostering economic growth through our regulatory regime. Today is an important step in the regulatory reset our Administration is working towards, marking meaningful progress toward a financial system that builds Parallel Prosperity for Main Street and Wall Street.

The media’s dislike for @POTUS is leading them to draft sensationalist headlines and false narratives. On the other side of the Iran conflict, it is thanks to President Trump’s global leadership that our world will be both safer and better supplied with energy.

On behalf of @POTUS, @USTradeRep and I have held a very productive two days of talks in Paris, France with Chinese Vice Premier He Lifeng to discuss trade and economic relations between our countries. We will be issuing a statement in the next few days reaffirming the stability in the relationship between the first and second largest economies in the world.

In advance of @POTUS’ trip to Beijing, @USTradeRep Jamieson Greer and I met with Vice Premier He Lifeng of China to discuss areas of mutual interest. Talks were candid and constructive, and we are on a good path towards the next meeting between President Trump and General Secretary Xi. In our discussions, we addressed a number of priorities to promote stability in our relationship, including how to manage bilateral trade and improve market access for the United States.

Here in Paris for a big interview with @SecScottBessent. Talking trade, #oil, markets and more as he wraps critical meetings with China. You will hear it first on @CNBC 730am ET @SquawkCNBC @VersantMedia

TODAY @ 730A ET: Don't miss our interview with Treasury Secretary @SecScottBessent:

.@POTUS’ Working Families Tax Cuts are putting more money back into the pockets of millions of American families, workers, and small business owners. Halfway to Tax Day and almost 45% of all returns have claimed at least one of President Trump’s new tax cuts. • Over 3.5 million returns have claimed No Tax on Tips • Over 15.5 million returns have claimed No Tax on Overtime • Over 9.2 million returns have claimed the Enhanced Deduction for Seniors • Nearly 3.5 million Trump Accounts have been opened

.@POTUS is taking decisive steps to promote stability in global energy markets and working to keep prices low as we address the threat and instability posed by the terrorist Iranian regime. To increase the global reach of existing supply, @USTreasury is providing a temporary authorization to permit countries to purchase Russian oil currently stranded at sea. This narrowly tailored, short-term measure applies only to oil already in transit and will not provide significant financial benefit to the Russian government, which derives the majority of its energy revenue from taxes assessed at the point of extraction. President Trump's pro-energy policies have driven U.S. oil and gas production to record levels, contributing to lower fuel prices for hardworking Americans. The temporary increase in oil prices is a short-term and temporary disruption that will result in a massive benefit to our nation and economy in the long-term.

This weekend, I will again meet with Vice Premier He Lifeng to continue the U.S.-China trade and economic dialogue in Paris, France. Under the guidance of @POTUS, our team will continue to deliver results that put America’s farmers, workers, and businesses first.

.@DFCgov is pleased to partner with @Chubb, one of the world’s premier insurance companies, as lead underwriter for DFC’s $20B Maritime Reinsurance Plan. With today’s announcement, we are one step closer to restoring market confidence and resuming energy and commercial trade through the Strait of Hormuz More here: dfc.gov/media/press-re…

The United States is the biggest and most powerful economy in the world. Under @POTUS’ leadership we are working with the world’s largest producers, consumers, and refiners to maintain stability in the world’s energy markets while we eliminate threats to our safety and security. This is a shared purpose towards which we are all working, and we thank our international partners sharing this same goal.

It was great to speak again today with President @JMilei and Minister @pabloquirno in Doral, Florida during @POTUS’ Shield of the Americas summit.  @POTUS’ Peace Through Economic Strength program has been and continues to be a resounding success. Argentina has successfully compressed bond market premiums and is accumulating foreign exchange reserves well ahead of @IMFNews targets. President Milei’s leadership of Argentina is well-aligned with the Trump Administration’s focus on promoting freedom, security, and prosperity throughout the Western Hemisphere. Under President Trump, America will always work with our allies to achieve these goals.

Enjoyed meeting with President @nayibbukele today at @POTUS’ Shield of the Americas summit in Doral, Florida.  I was glad to hear more about President Bukele’s pro-market reforms for El Salvador and his efforts to make El Salvador a digital assets hub. We will continue to work together to advance strategies to strengthen our hemisphere.

The world is well supplied in oil thanks to @POTUS’ policy of American Energy Dominance. Our allies in India have been good actors and have previously stopped buying sanctioned Russian oil. As we work to ease the temporary gap of oil supply around the world, we have temporarily permitted them to accept Russian oil that is already on the water. This deliberately short-term measure will not provide significant financial benefit to the Russian government because it only authorizes transactions involving oil already stranded at sea.

Under the leadership of @POTUS, @DFCgov will work with @USTreasury to provide up to $20 billion of maritime reinsurance in the Gulf region. This DFC program will – working alongside @CENTCOM – provide shippers hauling oil, gasoline, LNG, jet fuel, and fertilizer with a level of security no other policy can provide.

I am grateful to @POTUS and @SecScottBessent for their support and approval of @DFCgov's plan to restore confidence in maritime trade and stabilize international markets. Working alongside @CENTCOM, DFC coverage will offer a level of security no other policy can provide. We are confident that our reinsurance plan will get oil, gasoline, LNG, jet fuel, and fertilizer through the Strait of Hormuz and flowing again to the world. dfc.gov/media/press-re…

President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil. This deliberately short-term measure will not provide significant financial benefit to the Russian government as it only authorizes transactions involving oil already stranded at sea. India is an essential partner of the United States, and we fully anticipate that New Delhi will ramp up purchases of U.S. oil. This stop-gap measure will alleviate pressure caused by Iran’s attempt to take global energy hostage.