U.S. Treasury chief expects China tariff impasse to de-escalate

Bessent told the event Tuesday that he expects a de-escalation in the near future, according to a person who was in the room. "The president and the administration are setting the stage for a deal," she added, noting that "the ball is moving in the right direction." As global finance ministers and central bankers converge in Washington this week, all eyes are on the progress of trade talks on the sidelines of the spring meetings as countries grapple with Trump's new and wide-ranging tariffs.