Treasury Secretary Scott Bessent expressed optimism at JPMorganâs investor summit that the ongoing tariff war between the US and China is likely to de-escalate soon. He noted the unsustainability of the current high tariffs, which have reached up to 145% on Chinese goods. Despite no negotiations having started yet, Bessent thinks a deal is possible. The context of the comments includes rising global concerns as finance leaders gather amidst the ongoing trade tensions, which have significant economic implications.
"Bessent expressed optimism that the trade conflict would de-escalate soon, as the current tariffs at 125% on US products and 145% on Chinese goods are unsustainable."
"The trade sanctions have put both US and Chinese economies under strain, and as global industry leaders gather, the call for resolution becomes more pressing."
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