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Bessent Sees De-Escalation With China, Situation Unsustainable

Bloomberg04-22

US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China is unsustainable and that he expects the situation to de-escalate.

Bessent added that negotiations haven’t started but that a deal is possible, according to people who attended his session at an event hosted by JPMorgan Chase & Co. in Washington, which wasn’t open to the public or media.

The Treasury Department didn’t immediately respond to a request for comment.

The US Treasury chief spoke on the sidelines of the International Monetary Fund and World Bank’s spring meetings, as finance ministers and central bankers gather to assess the fallout of President Donald Trump’s trade war.

Bessent also said the world’s top two countries essentially have a trade embargo in place, with both slapping tariffs of more than 125% on each other’s goods.

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Comment3

  • tanis
    ·04-22
    I wonder how do u make a deal with another party without meeting or having negotiation with the other party? Talking to air? Might as well just say that US will unilaterally lower the tariffs. Say so much just for saving face. Or maybe US will just say a deal made with China without ever meeting with China? Usual tactics from T. I would wonder would China remove the restrictions on rare earth which is more damaging to US than the tariffs...hmmmm
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  • Tariffs should be delayed until 2026.
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    • tanisReplying toZhongRenChun
      Agreed, that is what the market wants which is certainty, but then again, I would believe that T wants to catch china off guard, but he underestimated China and overestimated himself and his own rag tag team. This is NOT 2018 when the first trade war started.  Also T has only 4 years, if not less.
      04-24
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    • ZhongRenChun
      economy needs time to adapt. business needs at least 6 months to prepare for big changes.  tariffs are too big too fast.  it's like heart surgery and brain surgery at the same time.  patient will die.  I would delay the tariffs to 2026 and start with 10%.  if theres positive result, gradually to 20%
      04-23
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    • tanis
      why? in any case, the trust in US is gone. Trust might come back only if the top man is replaced and that is a might be only.
      04-23
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  • Loyster
    ·04-22
    Admitting defeat. China 2 - USA 0
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