#Scott Bessent

The Treasury Department building in Washington, D.C., with the Washington Monument behind it, in 2015.

Capital controls

Treasury would ban some US investments in Chinese AI and chips, and require notice on anything above $50,000

Donald Trump greets Xi Jinping before their bilateral meeting at Gimhae International Airport in Busan, South Korea, in October 2025 — the summit that produced the truce now extended.

The US and China push their tariff truce to January 10, and Xi leaves Washington without a broader deal