Treasury Secretary Scott Bessent said at a closed-door JPMorgan investor summit that he expects trade tensions with China to de-escalate, according to people in the room Tuesday for his remarks. Bessent told attendees that although negotiations haven't started,

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.