WASHINGTON (AP) — U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown against China is unsustainable and expects a “de-escalation” in the trade war between the world’s two largest economies.

Treasury Secretary Scott Bessent believes the United States’s trade war with China will wind down soon. Bessent gave the remarks in a private speech in Washington, D.C., for JPMorgan Chase, adding that the conflict is not “sustainable.

U.S. Treasury Secretary Scott Bessent on Tuesday said that the tariff standoff with China is unsustainable and that he expects the situation to de-escalate, a source familiar said.