WASHINGTON, April 23 (Reuters) – U.S. Treasury Secretary Scott Bessent said on Wednesday that high tariffs between the United States and China are not sustainable, as President Donald Trump’s administration signaled openness to de-escalating a trade war between the world’s two largest economies that has raised fears of recession.
U.S. stocks rallied on hopes that the two countries might lower the steep trade barriers they have erected over the past month, though there was no sign that negotiations might start anytime soon.
Bessent said the tariffs — 145% on Chinese products and 125% on U.S. products — would have to come down before trade talks can proceed, but said Trump would not make that move unilaterally.
“Neither side believes that these are sustainable levels. As I said yesterday, this is the equivalent of an embargo and a break between the two countries in trade does not suit anyone’s interest,” Bessent told reporters.
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Source: https://www.reuters.com/world/china/bessent-says-china-tariffs-are-not-sustainable-us-signals-willingness-de-2025-04-23/
