
Sign up to save your podcasts
Or
Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.
US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.
That de-escalation will come in the very near future, Bessent said during an event hosted by JPMorgan Chase & Co. in Washington, which wasn’t open to the public or media. He characterized the current situation as essentially a trade embargo, according to people who attended the session.
Bessent said that it was not the US’s goal to decouple from China and that the current status quo of 145% tariffs on Chinese goods by the US and 125% tariffs on US products by China was not sustainable. He expressed optimism that tensions could cool in the coming months, which would bring relief to markets, but cautioned that a larger deal could take longer.
Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:
See omnystudio.com/listener for privacy information.
4.6
2929 ratings
Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.
US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China cannot be sustained by both sides and that the world’s two largest economies will have to find ways to de-escalate.
That de-escalation will come in the very near future, Bessent said during an event hosted by JPMorgan Chase & Co. in Washington, which wasn’t open to the public or media. He characterized the current situation as essentially a trade embargo, according to people who attended the session.
Bessent said that it was not the US’s goal to decouple from China and that the current status quo of 145% tariffs on Chinese goods by the US and 125% tariffs on US products by China was not sustainable. He expressed optimism that tensions could cool in the coming months, which would bring relief to markets, but cautioned that a larger deal could take longer.
Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:
See omnystudio.com/listener for privacy information.
364 Listeners
1,202 Listeners
402 Listeners
450 Listeners
2,171 Listeners
338 Listeners
1,788 Listeners
968 Listeners
192 Listeners
5,912 Listeners
61 Listeners
31 Listeners
64 Listeners
154 Listeners
3 Listeners
55 Listeners
2 Listeners
52 Listeners
7 Listeners
196 Listeners
11 Listeners
232 Listeners
48 Listeners
14 Listeners
52 Listeners
79 Listeners
367 Listeners
24 Listeners