Bessent sees ‘de-escalation’ with China in ‘near future,’ CNBC says

Treasury Secretary Scott Bessent told investors in a closed-door meeting Tuesday he expects ‘there will be a de-escalation” in President Trump’s trade war with China in the “very near future,” a person in the room told CNBC, reports Eamon Javers and Kevin Breuninger. “The next steps with China are, no one thinks the current status quo is sustainable,” Bessent said at a private investor summit in Washington, D.C., hosted by JPMorgan Chase, according to CNBC.