U.S. Treasury Secretary sees potential for major trade deal with China

U.S. Treasury Secretary Scott Bessent said there is an opportunity for a big deal between the U.S. and China, according to a series of posts by Walter Bloomberg on X. Bessent noted that President Donald Trump’s push to overhaul the trade system signals the start of renewed engagement with China. His comments follow a Wall Street Journal report that the Trump administration is considering a major reduction in tariffs on Chinese imports, potentially bringing them down to the 50%–65% range.