That Reuters article was extremely light on the details.
US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.
That de-escalation will come in the very near future, Bessent said during an event hosted by JPMorgan Chase & Co. in Washington, which wasn’t open to the public or media. He characterized the current situation as essentially a trade embargo, according to people who attended the session.
Bessent said that it was not the US’s goal to decouple from China and that the current status quo of 145% tariffs on Chinese goods by the US and 125% tariffs on US products by China was not sustainable. He expressed optimism that tensions could cool in the coming months, which would bring relief to markets, but cautioned that a larger deal could take longer.
https://archive.is/GIsLT
- China has a chance to do the funniest thing right now, and not lower their sanctions.
- Basically what he's saying is that the trade war failed and the US is scrambling to find a way out.
  
  I am not looking forward to the spin from the WH and right-wing media afterwards. Will be hyper all about claims of it being a "massive success" and something about it actually being about "showing China what can happen at the drop of a hat." Hopefully China will be able to keep making it harder and harder to make such claims.
- This guy sounds too much like an egghead.
  Trump should tariff him.
  
  Whoa, have you seen the price of eggheads these days?

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