US Treasury Secretary: "US-China Trade War Unsustainable... Transactions Will Be Possible"

"Situation Will Ease Once Negotiations Begin"

U.S. Treasury Secretary Scott Besant stated on April 22 (local time) that the tariff conflict between the United States and China is unsustainable and that the situation will ease.

Reuters Yonhap News

According to Bloomberg News, Secretary Besant made these remarks while attending a closed-door event hosted by JPMorgan Chase in Washington, D.C. on the same day.

He explained that the United States and China are currently imposing what are essentially export bans, and both countries are levying tariffs of more than 125% on each other. He added that negotiations with China have not yet begun, but expressed his belief that transactions between the U.S. and China will become possible. He explained that once the two countries begin trade negotiations in the future, they will be able to reach a compromise.

This event was held on the occasion of the International Monetary Fund (IMF) and World Bank (WB) Spring Annual Meetings and the Group of 20 (G20) Finance Ministers' Meeting. Finance ministers and central bank governors from around the world have gathered in Washington, D.C. this week to discuss U.S. President Donald Trump's trade policies and their economic impact.