The head of the US Treasury Department announced the expectation of a de-escalation of the trade conflict with China

The head of the US Treasury Department, Scott Bessent, said that the ongoing trade standoff between Washington and Beijing is unstable, and its de-escalation may occur soon. This was reported by the Associated Press (AP) on April 22, citing sources.

According to Bessent, none of the parties to the conflict believes that the current situation should continue. At the same time, he noted that official negotiations between the United States and China have not yet begun. In his opinion, they will be quite heavy.

"I really think that negotiations with China will be difficult," he said.

Market conventions: China and the EU may join forces in a trade war against the United States

The share of their total GDP in the global economy will reach a third in the coming years, but it is unlikely that the countries will remove all barriers.

US President Donald Trump announced on April 22 that the United States would reduce the percentage of customs duties on China, but not to zero. Then he admitted that the total US duties on goods from China, which currently amount to 145%, is a lot.

Chinese Ambassador to Russia Zhang Hanhui said on April 21 that China has effective measures and an arsenal of tools to counter "pressure and bullying" from the United States. He added that by imposing trade duties, Washington violates the rights of other countries and flouts the rules of the World Trade Organization (WTO).