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.

Trump and Treasury Secretary Scott Bessent have been making vaguely conciliatory comments about the administration’s approach to China. The former said this week that his tariffs will eventually “come down substantially” and that he won’t play hardball with Beijing.

U.S. Treasury Secretary Scott Bessent said Wednesday that “there is an opportunity for a big deal here” on trade issues between the United States and China. A dozen states sued President Donald Trump and his administration Wednesday,