Scott Bessent

A new sign of deteriorating relations between the U.S. and China happened on Monday as China accused the U.S. of violating the trade truce the countries signed last month.   According to an Axios article, China promised to take “resolute and forceful” steps.  The agreement ...

Over the weekend, the U.S. and China agreed to temporarily lower tariffs on each other’s products, which Bloomberg called a dramatic ratcheting down of trade tensions between the two largest economies in the world.   For the next 90 days, the combined 145% levies on most Chinese imports will be dropped to 30%, including the rate tied to fentanyl by Wednesday May 14th.  The 125%...

Treasury Secretary Scott Bessent, in an interview with CNBC, expressed optimism that “substantial progress” in U.S./China trade negotiations could be achieved in the coming weeks.   “I think it's Steins Law “that which is not sustainable doesn't continue”. So, 145%, 125% tariff levels are ...