Treasury Secretary Predicts De-escalation in China Tariff Standoff

U.S. Treasury Secretary Scott Bessent indicated at a JPMorgan Chase event that the ongoing tariff standoff with China is unsustainable and expects a de-escalation. Though no negotiations have begun, Bessent believes a deal is possible. This was initially reported by Bloomberg.

During a private event hosted by JPMorgan Chase in Washington, U.S. Treasury Secretary Scott Bessent expressed concerns regarding the ongoing tariff standoff with China. Bessent noted that the current situation is unsustainable and anticipates an eventual de-escalation.

The remarks, initially reported by Bloomberg, highlight Bessent's belief in the potential for a resolution despite no current negotiations underway. He emphasized the possibility of reaching a deal, reflecting a cautious optimism about future relations.

Given the economic implications, the Secretary's comments have sparked discussions among financial analysts and policymakers alike, bringing attention to the broader impact of these trade tensions. The revelation adds a layer of complexity to the already intricate U.S.-China trade dynamics.

(With inputs from agencies.)