Treasury chief says tariffs not 'sustainable'

Treasury chief says tariffs not 'sustainable'

WASHINGTON — U.S. Treasury Secretary Scott Bessent said Tuesday that the ongoing tariffs showdown against China is unsustainable and expects a "de-escalation" in the trade war between the world's two largest economies.

US Treasury secretary: Trade war with China is not ‘sustainable’

WASHINGTON (AP) — U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown against China is unsustainable and expects a “de-escalation” in the trade war between the world’s two largest economies. But in a private speech in Washington for JPMorgan Chase, Bessent also cautioned that talks between the United States and China had yet to formally start. Trump placed import taxes of 145% on China, which has coun…

U.S. Treasury secretary says trade war with China is not 'sustainable'

But in a private speech in Washington for JPMorgan Chase, Scott Bessent also cautioned that talks between the U.S. and China had yet to formally start.

U.S. Treasury Secretary Scott Bessent declared in a speech that the standoff with China over tariffs is unsustainable and that a "de-escalation" in the trade war between the world's two largest economies must occur.

The president says they will also reach an agreement with China.

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