⭕ US Treasury Secretary Scott Besant expects the trade escalation between Washington and Beijing to slow, while President Donald Trump announced that the hefty tariffs he imposed on Chinese exports to his country will be reduced "significantly."

⏪ During a closed-door meeting in Washington organized by JPMorgan Chase, Besant emphasized that the current trade situation between Washington and Beijing is unsustainable for both parties, according to what one of the attendees told Agence France-Presse.

⏪ The current trade situation the US Secretary is referring to is an additional 145% tariff imposed by the United States on its imports of Chinese products and a retaliatory 125% tariff imposed by China on its imports of US goods.

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