U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown with China is unsustainable and expects a “de-escalation” in the trade war between the world’s two largest economies.

But in a private speech in Washington for JPMorgan Chase, Bessent also cautioned that talks between the United States and China had yet to formally start.

https://archive.ph/jlKid

  • @Joncash2@lemmy.ml
    47•5 days ago

    It might not be sustainable for USA, but China is doing just fine. Their stock market is flatlining and they expect growth to drop 2.2% to 3% growth. Not great, but definitely sustainable. That seems to be a big problem for US negotiations.

      • @Joncash2@lemmy.ml
        14•5 days ago

        Oh I know, I’m just pointing out that China has no reason to make the first call, which some how, and this blows my mind, Bessent seems to believe that somehow it’s going to be so bad for China that China will call first. Why would the winner call first? What strange world would this happen?