Bessent says China tariffs are not sustainable as US signals willingness to de-escalate

Contributing sentiments towards policy:

48% : In addition to the steep tariffs on China, Trump has also imposed a blanket 10% tariff on all other U.S. imports and higher duties on steel, aluminum and autos.
44% : A White House spokesperson dismissed any reports as "pure speculation" and said news on tariffs would come from Trump himself.
38% : The European Union, which Trump has threatened with 20% tariffs, would respond with countertariffs if it cannot reach a deal with the United States before the July 9 deadline, economy minister Valdis Dombrovskis said on Wednesday.
29% : Bessent said the tariffs -- 145% on Chinese products and 125% on U.S. products -- would have to come down before trade talks can proceed, but said Trump would not make that move unilaterally. "Neither side believes that these are sustainable levels.
29% : "We are going to have a fair deal with China," Trump told reporters, but did not outline any specifics.
27% : The apparent U.S. softening on China tariffs was a welcome sign for markets battered by Trump's erratic trade policies.

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