Treasury Secretary Scott Bessent is testifying before the House Financial Services Committee at 10 a.m.

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He is expected to provide House members with an update on the state of the international financial system.

A TIMELINE OF THE US-CHINA TRADE WAR

In recent weeks, Bessent has signaled that a trade deal with China may be in the works, but has not provided details. President Donald Trump has gone back and forth with the country, imposing higher and higher tariff rates as part of a trade war that has since plateaued.

Alongside U.S. Trade Representative Jamieson Greer, Bessent will meet with top Chinese officials in Switzerland to discuss such a deal.