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.

Treasury Secretary Scott Bessent said on Wednesday that he expects a de-escalation in the ongoing tensions between the U.S. and China, following President Donald Trump's imposition of retaliatory tariffs of 245% on imports of Chinese goods into the country.

The comments from the US Treasury Secretary come as the trade war between the world's two biggest economies has escalated.