US Treasury Chief Expects China Tariff Impasse To De-escalate

US Treasury Secretary Scott Bessent told a closed-door event that he anticipates a tariff war between Washington and Beijing to de-escalate (Credit: AFP)

The trade standoff between Washington and Beijing is not sustainable, US Treasury Scott Bessent said Tuesday, predicting the tit-for-tat tariff war would de-escalate soon.

Speaking at a closed-door event hosted by JPMorgan Chase, Bessent said the enormous tariffs the world's two biggest economies placed on each other's imports amounted to a reciprocal trade embargo.