US Treasury Secretary says situation with China is unsustainable, source says

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April 22, 2025 1:26 PM EDT

A China Shipping container is seen at the port of Oakland, as trade tensions escalate over U.S. tariffs with China, in Oakland, California, U.S., April 10, 2025. REUTERS/Carlos Barria

NEW YORK (Reuters) -U.S. Treasury Secretary Scott Bessent on Tuesday said that the tariff standoff with China is unsustainable and that he expects the situation to de-escalate, a source familiar said.

Bloomberg first reported this.

He also added that negotiations haven’t started but that a deal is possible, the source added.

Bessent said this at a closed door event hosted by JPMorgan Chase in Washington.

(Reporting by Nupur Anand in New York, Editing by Franklin Paul)


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