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Trade tensions between the United States and China

U.S. stock indexes jumped on Tuesday, nearly erasing losses from Monday, as traders engaged in risky bets that the White House would strike crucial trade agreements with several countries, while U.S. Treasury Secretary Scott P. McIntosh told investors that the trade tensions between the United States and China "will ease".

McIntosh stated in a special presentation to investors at a conference for "J.P. Morgan Chase" that "the confrontation over tariffs with China is unsustainable, and he expects the situation to calm down," according to "Bloomberg".

He added that "negotiations have not yet begun, but reaching an agreement is possible".

"Reuters" quoted a source who listened to the Treasury Secretary's remarks, saying that McIntosh described the current trade situation between the two countries as a "mutual ban", and that "both sides consider it unsustainable".

McIntosh pointed out that "the goal of the Trump administration is not to separate the two largest economies in the world," expressing hope for a "large and good rebalancing" of the Chinese economy towards more consumption and the U.S. economy towards more manufacturing, but it is still unclear whether Beijing is willing to do so, according to the source.$XRP