Wall Street looked for trade progress Tuesday as President Trump and Treasury Secretary Scott Bessent hinted at tariff de-escalation with China. Trump said, "145% is too high, it will come down substantially.

US Treasury Secretary Scott Bessent told a closed-door investor summit Tuesday that the tariff standoff with China is unsustainable and that he expects the situation to de-escalate.

Treasury Secretary Scott Bessent told private investors during a meeting on Tuesday that the spiraling trade war between the United States and China was unsustainable and that he expects a "de-escalation" soon, according to a report from the Associated Press (AP). Newsweek has reached out to the White House for comment on Tuesday.