US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.
That de-escalation will come in the very near future, Bessent said during event hosted by JPMorgan Chase & Co. in Washington, which wasn’t open to the public or media. He characterized the current situation as essentially a trade embargo, according to people who attended the session.
Read more:
———-
👍 Like this video? Subscribe: bit.ly/4k33rCH
Get unlimited access to Bloomberg.com for $1.99/month for the first 3 months:
Subscribe to Bloomberg on YouTube👇
Bloomberg Originals:
Bloomberg Television:
Bloomberg Technology:
Bloomberg Podcasts:
Visit our partner channel Bloomberg Originals for global news and insight in an instant:
Connect with Bloomberg News on👇
X:
Facebook:
Instagram:
LinkedIn:
TikTok:
Bloomberg News is the first word in business news. Visit bloomberg.com for the latest on global business, markets and more.
source