Treasury Secretary Scott Bessent expects the U.S. and China to begin de-escalating their trade hostilities in the “very near future,” he said at an event in Washington, D.C., on Tuesday organized by JPMorgan,

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.

U.S. Treasury Secretary Scott Bessent said on Tuesday that he believes there will be a de-escalation in U.S.-China trade tensions, but negotiations with Beijing have not yet started and would be a "slog,