U.S. Treasury Secretary Scott Bessent indicated in a recent address that the current state of trade tensions between the United States and China is not sustainable and that he anticipates a reduction in hostilities moving forward.
Speaking at a private event in Washington, Bessent noted that formal negotiations between the two countries had not yet begun, despite escalating tariff measures. The U.S. has imposed import duties of 145% on Chinese products, prompting China to respond with its own set of tariffs at 125% on American goods.
These tit-for-tat actions have contributed to increased volatility in financial markets, as investors react to concerns over slowing global economic growth, inflationary risks, and rising interest rates tied to U.S. debt.
According to individuals familiar with the event, Bessent acknowledged the complexity of the situation, stating, “China is going to be a slog in terms of the negotiations,” and emphasizing that neither side views the current situation as tenable in the long term.
The remarks offer a glimpse into the administration’s outlook on one of the most closely watched economic confrontations in recent history, with potential implications for global trade and financial stability.
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