Overview

• Treasury Secretary Scott Bessent privately predicted a near-term de-escalation in the U.S.-China trade conflict, calling the current tariff levels unsustainable.
• President Trump stated that tariffs on Chinese goods would be reduced substantially but not eliminated, emphasizing that the U.S. economy is performing well.
• White House Press Secretary Karoline Leavitt affirmed progress toward a trade agreement, describing ongoing negotiations as moving in the 'right direction.'
• China’s commerce ministry reiterated its firm opposition to any deal that compromises its economic interests, signaling continued resistance to U.S. demands.
• Critics, including economist Paul Krugman, raised ethical concerns over Bessent’s closed-door briefing to investors, questioning transparency and potential insider trading risks.