NEW YORK, April 22 (Reuters) - U.S. Treasury Secretary Scott Bessent on Tuesday said that the tariff standoff with China is unsustainable and that he expects the situation to de-escalate, a source familiar said.

Bloomberg first reported this.

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He also added that negotiations haven’t started but that a deal is possible, the source added.

Bessent said this at a closed door event hosted by JPMorgan Chase (JPM.N) , opens new tab in Washington.

https://www.reuters.com/business/finance/us-treasury-secretary-says-situation-with-china-is-unsustainable-source-says-2025-04-22/