Secretary Treasury Scott Bessent said both the U.S. and China don’t want the trade war to escalate. However, he said it’s China’s responsibility to ensure that doesn’t happen. As the U.S. and China stare each down amid their ongoing trade war,

The Treasury secretary said that the President Trump and Xi Jinping of China have a good relationship but that he was not aware of a call, which Mr. Trump had alluded to last week.

I would guess that India would be one of the first trade deals we would sign. So watch this space,” Bessent added. In addition to his assessment of the situation with China a

U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were under way and said he did not know if the U.S. president had talked to Chinese President Xi Jinping.

Treasury Secretary Scott Bessent said he had no clue whether President Donald Trump had actually spoken to China to negotiate tariffs—days after Trump said they were happening. “I think that the Chinese will see that this high tariff level is unsustainable for their business model,