US Treasury Secretary Scott Bessent believes a de-escalation in the US-China trade war is imminent. In a private investor summit, Bessent stated that the current high-tariff standoff between Washington and Beijing is unsustainable. He called for relief from investors and markets worldwide, expecting a resolution “in the very near future.” Despite tariff rates reaching 145% on Chinese imports and 125% on US goods, Bessent stressed that negotiations with China are unlikely to result in decoupling. Both sides acknowledge the status quo is unsustainable, but Bessent expects progress, echoing positive sentiments from White House press secretary Karoline Leavitt.
Source: https://www.cnbc.com/2025/04/22/bessent-trump-tariffs-china-deescalate.html