Treasury Secretary Bessent says tariff standoff with China is unsustainable, expects de-escalation

Scott Bessent emphasized that the current tariffs between the US and China, which exceed 100%, are unsustainable. He anticipates a resolution, as both nations realize that neither side can maintain the status quo.

After Bessent’s comments, market optimism spiked, with the S&P 500 gaining 2.9%. Additionally, talks with India and proposals for trade deals from various countries indicate a shift in US trade strategy, aiming to alleviate ongoing global trade tensions.