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US-China Tariff Standoff Unsustainable, Says Treasury Secretary Bessent
US-China Tariff Standoff Unsustainable, Says Treasury Secretary Bessent
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US Treasury Secretary Scott Bessent has stated that the tariff standoff with China is unsustainable and expects a de-escalation. Bessent made the remarks at a closed-door investor gathering organized by JPMorgan Chase & Co. in Washington, D.C. Attendees confirmed that although talks haven’t started, a deal is possible. Bessent noted that negotiations with China will be challenging and that neither side believes the current status quo is sustainable. This development could have implications for the global economy and financial markets, including cryptocurrencies.
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