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.

U.S. Treasury Secretary Scott Bessent told a closed-door investor summit on Tuesday that he expects the tariff showdown with China will de-escalate as the situation is unsustainable, according to a media report.

Bessent gave the remarks in a private speech in Washington, D.C., for JPMorgan Chase, adding that the conflict is not "sustainable."