David Lawder

Treasury Secretary Scott Bessent on Sunday said the 43-day government shutdown caused an $11 billion permanent hit to the U.S. economy, but he was optimistic about growth prospects next year given easing interest rates and tax cuts.

The International Monetary Fund said on Monday it planned an "intensive program of engagement" with Syria to help it rebuild its economy, but a statement issued at the end of an IMF staff visit to Damascus did not mention any discussions of financial assistance for the country.

The U.S. Treasury said on Monday that U.S. sanctions against Russian oil majors Rosneft and Lukoil are already reducing Russian oil revenues and are likely to reduce the quantity of Russian oil sold in the long term.

U.S. President Donald Trump on Friday rolled back tariffs on more than 200 food products, including such staples as coffee, beef, bananas and orange juice, in the face of growing angst among American consumers about the high cost of groceries.

The International Monetary Fund is seeing signs of strain in the U.S. economy with fourth-quarter growth likely decelerating from previous forecasts, but a lack of data due to the government shutdown has clouded its ability to assess U.S. economic performance, IMF spokesperson Julie Kozack said on Thursday.

The U.S. and Switzerland edged closer to a trade deal on Thursday to reduce President Donald Trump's crippling 39% tariffs on Swiss imports and shrink Switzerland's trade surplus with the U.S. after talks in Washington on Thursday, officials from the two countries said.

The Trump administration said on Thursday it would pursue negotiations with China over its dominance of shipbuilding and ocean logistics as it formalized plans for a one-year pause on U.S. port fees on China-linked vessels as part of a broader deal to reduce trade tensions.

It raised the specter of additional chaos as Trump is widely expected to shift to other trade tactics in the wake of an adverse ruling.

Under one legal authority or another, Trump's tariffs are expected to stay in place long term.

The U.S. Supreme Court holds oral arguments on Wednesday over the legality of President Donald Trump's tariffs imposed under a law called the International Emergency Economic Powers Act, or IEEPA, that never previously was used for such a purpose.