Bessent Drops a Hint on China Tariffs—But What’s Next for US Trade?
U.S. Treasury Secretary Scott Bessent has signaled a possible turning point in the escalating tariff standoff between the United States and China, but cautioned that any resolution will be a "slog" rather than a swift fix Speaking privately to investors at a JPMorgan summit in Washington, Bessent described the current trade relationship as unsustainable, with the U.S. imposing tariffs as high as 145% on Chinese imports and China retaliating with 125% duties on American goods He emphasized that neither side considers the status quo viable, likening the situation to an economic embargo Despite...
