Scott Bensent says China must de-escalate tariff tensions star-news.press/wp

Sered Treasury Scott Benst said Monday that China should be sunk by the US-Chinese trade war – of which the President Donald Trump was largely aged.

“I believe that in China is de-escalating, because they sell us five times more than we sell us,” Sensent said during the interview at CNBC (CMCSA). “So those 120%, 145% tariffs are unsustainable.”

Both countries have imposed reciprocal tariffs on each other but back and back can be largely returned Trump 1. April “Liberation Day” Announcement of heavy tariffs. While he paused many of these duties, he was implemented even harder tariffs in China, and two countries have been traded since then. Currently now has 145% duty to Chinese imported goods, while China has 120% imposed on goods imported from the USA

The two sides are negotiating or not talking at allDepending on who you trust.

Trump said on Friday that he talked to his Chinese counterpart, Xi Jinping, “many times” to negotiate tariffs. But Chinese officials said they were “fake news”. The Chinese Ministry Spokesperson in Yadong told reporters on Thursday, “currently has absolutely negotiations on the economy and trade between China and the United States”

Trump administration signaled a willingness to negotiate with foreign authorities on tariffs. Bessent said earlier Monday that an agreement with India is ongoing and who will follow to the other countries.

Chinese officials signaled that their economy would not significantly affect the trade war. Zhao Chenxin, Vice President of National Development and Reform Commission (Chinese State), said the country remains secure that this year will hit 5% of economic growth, cited by Xinhu’s news agency.

And China allegedly understood for meals for certain imported goods. In Notes reported by BloombergThe ultimate official from the country’s state planner told the performers who lasted the month to supply the country, food and oil import imports will not affect tariffs due to abundantly available replacements around the world and China.

Meanwhile, the American economy could soon hit Trump tariffs. Goldman Sachs (GS) The report said that the Chinese goods will be a contract with two-thirds of this year if the tariffs remain at their current level – with the communication equipment, clothing and chemical sectors of the product the most vulnerable from the production sectors.

Gary Cohn, Trump Former Chief Economic Adviser During his first time, he said in CBS (To) Interview on Sunday to think that the effects of tariffs will begin to rip through the American economy by the end of May. He also warned that these tariffs are “very regressive”, which means that it will disproportionately affect the Americans of lower revenues that implement a higher share in the basic goods.

Americans turned to the Presidential Tariffs more and more. The Trump’s Evaluation Evaluation has fallen sharply, and about 60% of American adults think that his tariffs crossed too far, according to AP-NORC recent survey. (Three in four think that his trade policies will encourage consumer goods prices.) As a result, some US customers went to a Consumer of Velika Maps to try to beat a cul1 price.