Washington (AP) – American Treasury Secretary Scott bets said in a Tuesday speech that the Tariff force test Against China is not durable and expects a “de -escalation” in the trade war between the two biggest economies in the world.
But in a private speech in Washington for JPMorgan ChaseBessent also warned that talks between the United States and China had not yet officially started. Trump has placed 145% import taxes on China, which was coupled with 125% prices on American products. Trump has placed prices on several dozen countries, causing Stock market to trip And interest rates to increase American debt, investors are concerned about slower economic growth and greater inflationary pressure.
The details of the speech were confirmed by two people familiar with the remarks that insisted on anonymity to discuss it.
“I say that China will be an SLOG in terms of negotiations,” said Bessent according to a transcription obtained by the Associated Press. “None of the parties think that the status quo is sustainable.”
The S&P 500 stock market index increased after Bloomberg News initially announced Bessent's remarks.
The Trump administration met for interviews with counterparts from Japan, India, South Korea, European Union, Canada and Mexico, among other nations. But Trump has not shown any public indication that he plans to withdraw his reference rate at 10%, even if he insisted that he was looking for other nations to reduce their own import taxes and remove non -tariff obstacles which, according to administration
The White House press secretary Karoline Leavitt told journalists on Tuesday that Trump told her “that we are doing very well” concerning “a potential trade agreement with China”.
China warned other countries on Monday to conclude trade agreements with the United States that may have a negative impact on China.
“China firmly opposes any party, reaching an agreement at the expense of the interest of China,” the Chinese Ministry of Commerce said in a statement.
Leavitt said the Trump administration had received 18 proposals from other countries for trade agreements with the United States, adding that “all those involved want to see a trade agreement.”
The uncertainty about the prices on the financial markets has also been amplified by Trump calling for the federal reserve to reduce his reference interest rate, the president saying that he could dismiss a president of the Fed Jerome Powell If he wanted to do it.
Leavitt said Trump believes that the Fed had by maintaining stable rates because he awaits the impacts of the prices “in the name of politics, rather in the name of what is good for the American economy”.
