Treasury Secretary Scott Bessent told an investor summit on Tuesday that he expects the U.S. and China will de-escalate the impasse over tariffs because it's unsustainable for both countries, FOX Business has learned.

Bessent said that while negotiations haven't started, a deal is possible, a source who attended the investor summit told FOX Business. Bloomberg first reported the news.

The treasury secretary added that those trade talks will take time, but the status quo with elevated tariffs isn't viewed as sustainable by either side.

This is a developing story. Please check back for updates.

Treasury Secretary Scott Bessent told an investor summit Tuesday that he expects the tariff war between the U.S. and China will de-escalate because the status quo is unsustainable.{ai:summary}Treasury Secretary Scott Bessent indicated that the U.S. and China are likely to de-escalate their tariff impasse, as it is unsustainable for both nations. Although negotiations have not yet begun, he remains optimistic about reaching a deal in the future.Bessent noted that while trade talks will take time, the current situation with high tariffs is not sustainable for either side. #economy

Bessent believes China impasse over tariffs will de-escalate

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