Reported about 12 hours ago
U.S. Treasury Secretary Scott Bessent expressed optimism about a de-escalation in trade tensions with China, although negotiations have yet to commence and are expected to be difficult. Speaking at a JP Morgan conference, he noted the unsustainable nature of the current trade situation, characterized by high tariffs on both sides, and highlighted the need for a rebalancing of the economies toward consumption in China and manufacturing in the U.S. Bessent's remarks contributed to positive momentum on Wall Street following recent market fluctuations.
Source: YAHOO