US Bessent: Need to see de-escalation with China on tariffs

• Need to see de-escalation with China on tariffs.
• China needs to rebalance.
• If US, China can rebalance together, that would be a big deal.
• Tariffs situation with China will be a multi step process.
• Chinese economy is slowing down substantially, we will likely revisit Trump’s phase 1 trade deal.
• If holiday orders not placed, could be devastating for China.
• We are going to bring down China’s unfair trade barriers, hold China to its prior commitments.
• I am meeting with Japan on trade today.
• Had very good meetings with Indonesian Finance Minister.
• I’m not involved with EU talks now.
• We are going to bring down European digital services taxes.
• Will lessen uncertainty on tariffs every day and every week.

This article was written by Giuseppe Dellamotta at www.forexlive.com.