LIVE: White House briefing with Treasury Secretary Bessent

Non-negotiable deal terms

Bessent stated no agreement is possible without Iran opening the Strait of Hormuz, surrendering all highly enriched uranium, and permanently abandoning its nuclear program, with sanctions relief strictly commensurate to verified concessions.

Fragmented Iranian leadership

The administration assesses that Iran's government is now divided among elected officials, the IRGC, and clerics who 'are having trouble communicating' following the elimination of the first two layers of leadership.

Oman diplomatic assurance

Following President Trump's threats regarding the Strait, Bessent spoke with the Omani ambassador who confirmed no plans to implement tolls and emphasized 200 years of bilateral relations.

Airline sanction enforcement

Treasury is targeting Iranian state-owned airlines by sanctioning any entity providing refueling, landing fees, or ticket processing, while exempting religious pilgrimages to Mecca and Medina.

CBDC prohibition

The administration has explicitly ruled out creating a central bank digital currency to prevent potential government tracking of American spending patterns.

Stablecoin legislation push

Bessent urged Congress to pass the bipartisan CLARITY Act to establish regulatory frameworks for stablecoins, aiming to bring digital asset markets onshore from the current 'wild west' offshore environment.

Trump $250 bill contingency

While current law prohibits living persons on currency, Treasury has prepared advance designs for a potential $250 bill featuring President Trump pending Congressional legislation to change the requirement.

Fraud-driven deficit reduction

Citing GAO estimates of $500 billion in annual fraud, Bessent outlined a plan to cut the $1.8 trillion deficit toward 3% of GDP, noting the administration already reduced the inherited 6.7% deficit to approximately 5.4%.

Weekly Fed coordination

Bessent established a pattern of weekly breakfasts with Federal Reserve Chair Powell, expressing confidence the Fed will balance inflation and growth to achieve 'substantial disinflation' and lower interest rates.

Consumer resilience metrics

Despite the lowest personal savings rate in four years, Bessent cited strong consumer spending, high tax refunds, and low unemployment across all income quintiles as evidence of underlying economic durability.

IRS leak settlement

Bessent referred questions regarding the IRS settlement over the leak of 400,000+ tax returns—including the Trump family's—to Acting Attorney General Todd Blanche, citing ongoing litigation.

Antifa funding probe

Treasury and the FBI are actively investigating Antifa financing, with Bessent announcing new IRS guidance requiring nonprofits to verify grant recipients aren't funding violent activities or rights suppression.

Flexible Cuba sanctions

Sanctions pressure on Cuba can escalate or ease depending on regime behavior, particularly regarding acceptance of humanitarian aid, which the current regime has allegedly rejected to prevent bypassing their 'corrupt system.'