US Treasury Secretary Scott Bessent told a closed-door investor summit on Tuesday that President Donald Trump’s tariff war with China has led to an unsustainable, two-way “embargo” and that he expected the situation to de-escalate.
Bessent also said in the session on the sidelines of the International Monetary Fund and World Bank’s spring meetings, hosted by JPMorgan Chase, that negotiations with Beijing had not started but that a deal was possible, according to an attendee.
