The United States Secretary of the Treasury, Scott Bessent, has expressed his concern about the unsustainability of the current trade tensions between the United States and China.
During an event organized by JPMorgan Chase, Bessent noted that the current tariff situation, which essentially constitutes a bilateral trade embargo, is not viable in the long term for either of the two largest economies in the world.
Bessent expressed his hope that there will be a de-escalation in the trade conflict, although he acknowledged that formal negotiations have not yet begun.
He emphasized that, despite the tensions, the goal of the U.S. administration is not to completely decouple the economies of both countries.
His statements come amid growing concern about the negative impact of the trade war on the global economy. The imposition of high tariffs by both parties has created uncertainty in the markets and affected international supply chains.
In response to these statements, China has warned that it will not accept trade agreements that harm its interests.
The Chinese government's stance reflects a determination to protect its economy and its position on the global stage. The international community is closely watching the development of this situation, aware of the implications it could have for global economic stability.