The US Treasury Secretary expects to calm in the trade war with China

US Treasury Secretary Scott Besent expected a truce in the trade war between the United States and China, saying in a speech on Tuesday that the current confrontation on customs duties with China is not sustainable.
Meanwhile, Basant warned in his speech to JB Morgan Chis, that the talks between the United States and China have not yet officially started.

Trump fees on China

Trump imposed 145% fees on imports from China, which responded with 125% fees on imports from the United States.
Trump imposes fees on dozens of countries, which led to the disturbance of the stock market and the high interest rates on American bonds, due to investor concerns about the slowdown in the growth of the American economy and the high inflationary pressures.

Very difficult negotiations

“I say that China will be very difficult in negotiations, none of the parties believes that the current situation will continue,” said Besent.
The Trump administration held talks with the governments of Japan, India, South Korea, the European Union, Canada, Mexico, and other countries, on customs duties and trade relations.
But Trump did not show any public indicators on his intention to cancel the basic customs duties imposed on almost all countries of the world and amount to 10%, despite his insistence on seeking other countries to reduce their taxes on imports, and remove any non -customs barriers that the administration says is hindering American exports.