U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown with China is unsustainable and expects a “de-escalation” in the trade war between the world’s two largest economies.

But in a private speech in Washington for JPMorgan Chase, Bessent also cautioned that talks between the United States and China had yet to formally start.

https://archive.ph/jlKid

  • FooBarrington@lemmy.world
    14·
    1 day ago

    And now Trump announced that the tariffs will be massively reduced. Looks like America lost another trade war. Who’d’ve thunk?

  • Joncash2@lemmy.ml
    47·
    2 days ago

    It might not be sustainable for USA, but China is doing just fine. Their stock market is flatlining and they expect growth to drop 2.2% to 3% growth. Not great, but definitely sustainable. That seems to be a big problem for US negotiations.

      • Joncash2@lemmy.ml
        14·
        2 days ago

        Oh I know, I’m just pointing out that China has no reason to make the first call, which some how, and this blows my mind, Bessent seems to believe that somehow it’s going to be so bad for China that China will call first. Why would the winner call first? What strange world would this happen?

      • Makeitstop@lemmy.worldEnglish
        11·
        2 days ago

        That’s not true. It’s led by the finest collection of imbeciles the modern world has ever seen.

        • Tja@programming.dev
          3·
          1 day ago

          A voted in by 77 million imbeciles and another ~70 million morons who didn’t vote against him.

  • oyo@lemm.ee
    22·
    2 days ago

    Private speech to JP Morgan Chase giving details of policy timing? Sounds legit.

    • LifeInMultipleChoice@lemmy.dbzer0.comEnglish
      201·
      2 days ago

      The guy makes tariffs thinking “well that will bring them to the table to talk” and China instead just gained more soft power around the globe in the vaccums the U.S. created. Don’t worry, we know all parties will claim they won no matter what ends up happening. Who loses most, the civilians

      • atzanteol@sh.itjust.worksEnglish
        7·
        2 days ago

        China would have talked trade deals without all this self destructive bullshit.

        Trump is a guy who would walk into a car dealership, insult everyone, complain loudly about the prices, and pay 10% over asking while telling everyone he got a great deal

  • ChicoSuave@lemmy.world
    23·
    2 days ago

    Trump is so dumb he believes in American Exceptionalism, banked the future of the country against it, and now has shown how much hype it all was. Hype that was used to build a global economic empire, controlled the markets of unrelated cultures, and dominated geopolitics through it. Trump just killed all that hype and now each of those tent poles of American empire is crashing down, taking with it the image of America as GloboCop.