US Treasury Secretary Bessent sees de-escalation with China – Bloomberg

The US Treasury Secretary Scott Bessent commented that the tariff standoff with China is unsustainable and that he expects a de-escalation of the situation.

Bessent said that although negotiations had not started, a deal is possible suggested people that attended a private event by JP Morgan Chase & Co. in Washington.

Financial markets reaction to Bessent comments

The DJIA has risen over 1,000 points to 39,200 as risk appetite improved. Gold prices tumbled below $3,400, down more than 1%, and the US Dollar gained over 0.39%, according to the DXY, which is up at 98.70.

In the FX space, the EUR/USD fell below 1.1450, down 0.4% and the GBP/USD stays below 1.3360 down 0.15%.

Gold daily chart