Trump’s Treasury Secretary says: The trade war between the United States and China is “sustainable.”

US Treasury Secretary Scott Bessin said in a speech on Tuesday Definitions The confrontation is against China It cannot be tolerated and expected to “cancel the escalation” in the trade war between the largest economists in the world.

But in a special speech in Washington in favor of JPMorgan Chase, Bessent also warned that the talks between the United States and China had not officially started. US President Donald Trump Import taxes were placed 145 % on China, which faced 125 % definitions on American goods.

Trump put the customs tariff on dozens of countries, causing the stock market to stumble and increase interest rates on American debt, as investors worry about the slow economic growth and increase inflationary pressures.

The details of the Bess’s letter were confirmed by two people familiar with the observations who insisted on not being identified for their discussion.

“I say that China will be abundant in terms of negotiations,” said Pesint, according to a copy obtained by the Associated Press. “None of the two sides believe that the current situation is sustainable.”

The S& P 500 stock index increased by 2.5 % After Bloomberg News initially reported about Bessent’s comments.

Trump admitted an increase in the stock market in statements to reporters after that on Tuesday, but he avoided emphasizing whether he was, too, that the situation with China was not sustainable as Pesinte said behind closed doors.

“We are fine with China,” Trump said.

Despite his high definition, Trump said he would be “very nice” for China and does not play a harsh ball with Chinese President Xi Jinping.

“We will live together with great happiness and ideal, we work together,” Trump said.

The US President said that the final tariff rate with China will decrease “significantly” from the current 145 %.

“It will not be high, it will not be high,” Trump said.

The Trump administration has gathered talks with their counterparts from Japan, India, South Korea, the European Union, Canada and Mexico, among other countries. But Trump has not shown any general indications that he planned a 10 % primary definition decrease, so he insisted that he is looking for other countries to reduce their import taxes and remove any non -fire barriers that the administration says has hindered exports from the United States

On Monday, China warned other countries against concluding trade deals with the United States, which may negatively affect China.

“China strongly opposes any party that reached a deal at the expense of China’s interests,” the Chinese Ministry of Commerce said in a statement.

White House press secretary Caroline Levit said that the Trump administration had received 18 proposals from other countries about commercial deals with the United States, adding that “all concerned want to see a commercial deal.”

The uncertainty about the customs tariff in the financial markets was also amplified by Trump’s invitation to the Federal Reserve to reduce the standard interest rate, as the president said he could shoot at the Federal Reserve Chairman Jerome Powell if he wants to do so.

Levitte said that Trump believes that the Federal Reserve has maintained fixed prices because it is awaiting the effects of definitions “in the name of politics, rather than the name of what is suitable for the American economy.”

Trump later said he wanted to “be” early “in lowering prices and that he has no plan to dismiss the Federal Reserve Chair, although he previously suggested that he would do so.

“I have no intention to shoot him,” Trump told reporters.

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Powell said that Trump’s tariff creates uncertainty about slower growth and higher inflationary pressures, while the president stresses that inflationary concerns are not found mainly.

Trump said that the president confirms that the prices of energy and groceries are decreasing, so the Fed Bank must reduce their standard prices because inflation is no longer a threat to the American economy. His statements indicated that he is still planning to use the Fatwa platform to pressure an American central bank committed to resisting political pressure as part of its mandate to achieve stability in prices and increase employment.

Trump’s frustration with social media posted last Thursday: “Powell’s end can come enough!”

The term head of the Federal Reserve ends in May 2026.

On Tuesday, Trump continued to broadcast his grievances about Powell, although he said that the Federal Reserve Speaker would remain in the job despite the president’s belief that inflation was no longer a problem.

Trump said, “Everything comes down.” “The only thing that has not decreased, but it did not rise much, is interest rates. We believe that the Federal Reserve should reduce the rate. We believe it is an ideal time to reduce the rate. We would like to see our president be early or on time, unlike the late.

Trump again attacked Powell on Monday on his social account, saying, “There is almost no inflation.”

The comment based on a statement issued by Trump last week said he believed that he could launch Powell, A step that shook the financial markets and the emotional investors Use rates may be subject to politics instead of economic basics.

“If you want to go out, it will come out of there at a real speed, believe me,” Trump said in the Oval Office last Thursday. “I am not happy with it.”

The Federal Reserve was affected by more discounts in the price of federal funds, which affects the money supply by setting the interest rate that banks can impose on each other to obtain night loans. This rate is effectively 4.33 %, a fully percentage point has decreased since last August, as inflationary pressures seemed to reduce.

The Federal Reserve raised this rate at the beginning due to the inflation that extends during the presidency of Joe Biden, and a secondary result of the global economy recovers from the Covid-19 pandemic and the high energy and food prices after Russia invaded Ukraine in 2022.

But Powell was also ready to challenge the president’s commercial policies. He said last week in Chicago’s speech Trump’s tariff policies will harm the American economy, a direct warning to a white house that tries to sell import taxes as a long -term positive for the country.

Powell said last week at the Chicago Economics Club: “The level of increases in the tariff that has been announced so far is much greater than expected, and it is likely that the same applies to economic effects that will include higher inflation and slower growth.”