U.S. Department of the Treasury

Our Founding Fathers—George Washington, Thomas Jefferson, and Alexander Hamilton—could never have imagined the economy America has built today. It is the envy of the world. As @POTUS has said, record investment is pouring into the United States. Thanks to President Trump's leadership—from digital assets and technological innovation to restoring American manufacturing—we are pulling away from the rest of the world.

.@SecScottBessent: We had the biggest tax refund season ever. Trade deals, tax cuts, energy dominance, and deregulatory efforts. America is ushering in the greatest reshoring wave in our history. In June, our manufacturing sector expanded for the sixth straight month. We’ve got construction jobs, and those are going to lead into manufacturing jobs. We've got Main Street prosperity. Real wages are up $1,000. And the bottom 25% of wage earners, just like in @POTUS’ first term, are outperforming the top 25%. This is a working families Administration.

I look forward to seeing my longtime friend, Bank of Japan Governor Kazuo Ueda, at the G20 Finance Ministers Meetings in the beautiful Blue Ridge Mountains city of Asheville, North Carolina, at the end of August. Japan's economy continues to perform well under Prime Minister Takaichi, Governor Ueda, and the Bank of Japan Board, which has demonstrated a strong commitment to monetary and financial stability. We continue to enjoy a strong relationship and close coordination.

Today, @USTradeRep Greer and I spoke with Chinese Vice Premier He Lifeng ahead of @POTUS @realDonaldTrump and President Xi's meeting in September. In our discussion, I emphasized that we expect Beijing to fully meet its commitments on rare earths and U.S. agricultural products. We also discussed implementation of the Trade and Investment Boards as a mechanism to secure concrete progress toward a more balanced, fair, and constructive U.S.-China economic relationship.

Those who provide financial services, logistics, or commercial support to the IRGC or Mahan Air are helping sustain a terrorist enterprise. Treasury will continue to identify them, expose them, and cut them off from the U.S. financial system.

Today, Treasury’s Office of Foreign Assets Control sanctioned six entities and individuals in China, India, Russia, and Iran, including multiple companies serving as general sales agents for the U.S.- and European Union‑sanctioned Iranian airline Mahan Air. Although Mahan Air presents itself as a civilian carrier, it has long played a central role in enabling the Islamic Revolutionary Guard Corps.

More than a year ago, the House passed the Clarity Act. There’s been progress since — thousands of hours of bipartisan negotiations took place at the staff and Member levels. The Senate Committees on Banking and Agriculture advanced their respective titles. And Senate Republicans produced a floor-ready product that, as I type this, is waiting for a vote. It’s disappointing — but not surprising — that Senate Democrats are choosing politics on the cusp of a major victory for American leadership. Find another instance in history where Congress, when given the choice, opted to push an industry out of the United States rather than smartly regulate it. American Exceptionalism was once a bipartisan goal; if Clarity fails, I have serious doubts. These same Democrats — many of whom have taken millions of dollars from the crypto industry — proclaim that Clarity lacks safeguards for consumers and falls short in countering illicit finance. Nothing could be further from the truth. Titles II and III materially uplift regulatory and compliance obligations for digital asset intermediaries, placing them on similar footing with traditional financial institutions. The Blockchain Regulatory Certainty Act — which Washington lobbyists have spun up as a boogeyman for certain groups of prosecutors and law enforcement — does nothing other than codify longstanding Treasury Department policy that’s remained consistent across Administrations: non-custodial builders and developers are not, and have never been, subject to registration obligations under the Bank Secrecy Act. And at this point, major law enforcement trades that once opposed the bill, including the Fraternal Order of Police, have now endorsed it. The Senate needs to vote NOW on this landmark legislation. The truth is that Senate Democrats are afraid to advance the Clarity Act as they fear Senator Warren and the “Anti-Crypto Army” she once promised to build. In the days ahead, Leader Thune will put this theory to the test. Will Senate Democrats be on the side of American Exceptionalism, or will they opt to cede American leadership of a global industry for fear of the bespectacled squirrel’s Left flank? America will lead or America won’t. It’s not more complicated than that. I believe Satoshi once said it best: “If you don’t believe me or don’t get it, I don’t have time to try to convince you, sorry.”

CFIUS plays a critical role in protecting U.S. national security while ensuring the United States remains the world’s most attractive destination for investment. With this new website, the Trump Administration is significantly upgrading CFIUS’ customer service, making it easier for companies, investors, and their counsel to find the information they need, understand our processes, and facilitate greater foreign investment in the United States, consistent with the goals of @POTUS @realDonaldTrump's America First Investment Policy.

With its economy in freefall and inflation in the triple digits, the regime is desperate for cash. The United States will not allow Iran to hold global commerce hostage or use international shipping to finance the IRGC’s terrorism, aggression, and repression.

Today, Treasury’s Office of Foreign Assets Control designated two firms integral to an Islamic Revolutionary Guard Corps-backed extortion scheme that forces commercial vessels to purchase mandatory maritime “insurance” to transit the Strait of Hormuz.  Although this coverage purports to protect vessels from risks such as seizures, these risks are overwhelmingly created by Iran itself.

Today, South Carolina has laid to rest one of its most devoted sons in Lindsey Graham. I joined his dear sister Darline and fellow South Carolinians in Columbia to mourn his passing and to honor his memory. The grief felt across the Palmetto State reveals the gratitude of a people who know how completely Lindsey had given himself to them over a lifetime of service. His was a distinctly American ascent from Central, South Carolina to the pinnacle of the United States Senate. Along the way, the arc of Lindsey’s life stirred the pride of every South Carolinian who saw in him one of our own. It reminded us that in America, the circumstances of one’s upbringing are never binding. And that the highest places remain well within reach of those born far from power and privilege. Beneath the force of Lindsey’s convictions as an iconic American statesman was a man of uncommon warmth and generosity of spirit. It was one of the great privileges of my life to call him my friend. May God surround the Graham family with comfort as they draw strength from a grateful state. And may Lindsey’s memory be the blessing his life was.

Renaming Joint Base Charleston in honor of Lindsey Graham is a worthy tribute to a life spent in service of our nation. I am grateful to Elliott Summey for his advocacy of this initiative and to @DeptofWar leadership for its rapid implementation.

.@SecScottBessent: We are building this incredible economy under @POTUS. We're seeing investment kicking in now all over the country. This is a manufacturing renaissance.

.@SecScottBessent: The underlying economy is very, very strong. The consumer remains resilient, lower-income workers are seeing bigger wage increases, core inflation is down to 2.6%, and we're seeing record investment come into the United States. Those investments mean construction jobs today and manufacturing jobs tomorrow.