The American secretary of the Treasury Scott Bessent walks to speak to the media of the last price announcement of President Donald Trump, at the White House in Washington, DC, American on April 9, 2025.
Leah Millis | Reuters
The Treasury Secretary, Scott Bessent, told investors at a door meeting on Tuesday that he expects “there will be a de -escalation” in the trade war of President Donald Trump with China in “a very close future,” said a person in the room at CNBC.
“The next steps with China are, no one thinks that the current status quo is sustainable” with rate rates at their current levels, said Bessent at a private investor summit in Washington, DC, organized by JPMorgan Chase.
The actions, already recovering from the sale of the previous day, climbed higher after the Bessent remarks were reported for the first time.
Bessent said he thought that the prospect of de -escalation between economic superpowers “should give the world, the markets, a sigh of relief,” according to the person in the room.
Bessente also insisted that, despite the American prices on Chinese imports at 145% and China retaliated with 125% of rights to American goods, the objective of Trump’s policy “is not to decouple”.
The secretary of the American cabinet noted that negotiation with China is likely to be “a SLOG”. But neither of the two parties “think that the status quo is durable,” added Bessent.
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