U.S. Treasury Secretary Scott Bessant said at a closed-door meeting with investors that the tariff standoff between the United States and China cannot continue indefinitely. According to him, the situation actually represents a trade embargo, and a reduction in tension is inevitable in the near future. He noted that the current status quo with 145% U.S. tariffs on Chinese goods and 125% Chinese tariffs on American products is unsustainable. Bessent stressed that the United States does not seek to sever economic ties with China, and expressed cautious optimism about a possible de-escalation in the coming months. However, he warned that the conclusion of a comprehensive agreement could take two to three years. Such an agreement, in his opinion, should include a redistribution of the trade balance, which will stimulate the growth of production in the United States. The minister also noted that negotiations with China on a large-scale agreement have not yet begun, but the search for ways to stabilize relations is inevitable, since both sides cannot continue the current confrontation.
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