Source: International Business Times
US Treasury Secretary Scott Bessent told a closed-door event that he anticipates a tariff war between Washington and Beijing to de-escalate 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. Bessent was referring to new duties Washington and Beijing have imposed this year.
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