Speaking in the Oval Office after a brief swearing-in ceremony for Securities and Exchange Commission Chair Paul Atkins Tuesday, Trump said talks with China were “doing fine” because “everybody wants to have involvement” in American markets.

Treasury Secretary Scott Bessent said Wednesday that China’s current economic model — built on “exporting its way out of economic troubles” — is unsustainable, and that the U.S. wants to help it change.

WASHINGTON: US Treasury Secretary Scott Bessent said on Wednesday that high tariffs between the United States and China are not sustainable, as President Donald Trump’s administration signaled openness to de-escalating a trade war between the world’s two largest economies that has raised fears of recession.