Bessent aims to de-escalate China trade war: 'The current status quo is unsustainable'

Treasury Secretary Scott Bessent said the current state of America's trade war with China is "unsustainable," signaling support for a de-escalation between the two countries.

When asked if the China tariffs will come down, Bessent told reporters during a media roundtable Wednesday that "both sides believe that the current status quo is unsustainable." The United States imposed a 145% tariff on Chinese imports, and China subsequently retaliated with a 125% tariff on the United States.

Nevertheless, Bessent assured reporters that 'we are moving towards certainty.'

Bessent also added that "both sides are waiting to speak to the other," clarifying that the trade negotiations between the United States and China have not begun.

"I think at this point there would have to be a de-escalation by both sides," Bessent said. "I would be surprised if they went down in a mutual way."

Bessent also said that President Donald Trump has not yet made any unilateral offers to de-escalate.

Because a trade agreement has not yet been reached, some American companies are reportedly reluctant to hire during this period of uncertainty. Nevertheless, Bessent assured reporters that "we are moving towards certainty."

"It's a three-legged stool, and everyone seems to want to focus on one leg, which is tariffs," Bessent said. "The underreported story is that tax is going better than expected, and the Republican unity around that has been very strong."

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