Treasury Secretary Scott Bessent said “all aspects” of the US government are in contact with China but that it’s up to Beijing to take the first step in de-escalating the tariff fight with the US due to the imbalance of trade between the two nations.

US and China tariff tensions continue to dominate the focus, with signs of deescalation mounting even as President Trump sent mixed signals on the state of relations. On Monday, it was reported that Asian economies like South Korea,

Trump's erratic, and often confusing, rollout of tariffs has led to unprecedented market volatility and serious damage to investor trust in U.S. assets.