WASHINGTON (AP) — U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown against China is unsustainable and expects a “de-escalation” in the trade war between the world’s two largest economies.

US Treasury Secretary Scott Bessent recently said that India is likely to become the first country to finalise a bilateral trade agreement with the United States.

Treasury Secretary Scott Bessent told investors Tuesday that the US-China trade war is unsustainable and he expects the battle to de-escalate, a person familiar with the matter confirmed to CNN, giving a boost to a Wall Street rally that had taken shape this morning.