Bessent: China must act to ease trade tensions; U.S. near India trade deal... Treasury Secretary Scott Bessent in a CNBC interview said it’s up to China to de-escalate trade tensions, citing the 5-to-1 U.S. trade deficit and warning current 145% (China) and 125% (U.S.) tariff levels are unsustainable. Bessent described U.S./China talks as unclear and slow, noting no confirmed communication between presidents Donald Trump and Xi Jinping.
However, progress is faster with other countries. Bessent highlighted strong advances with India, Japan and South Korea, with a U.S./India trade deal possibly just weeks away.
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