U.S. Treasury Secretary Scott Bessent said on Wednesday that he believes that excessively high tariffs between the U.S. and China will have to come down before trade negotiations can proceed but said President Donald Trump would not unilaterally cut tariffs on Chinese imports.

US Treasury secretary Scott Bessent on Tuesday warned that the US-China trade war was “not sustainable” and that the countries would have to de-escalate their dispute, in comments that buoyed financial markets hoping for a trade deal.

U.S. Treasury Secretary Scott Bessent said on Tuesday that he believes there will be a de-escalation in U.S.-China trade tensions, but described future negotiations with Beijing as a "slog" that has not started yet,

U.S. Vice President JD Vance has called for greater collaboration with India in sectors such as defense, energy and technology

India and the US are making progress in negotiating a bilateral trade deal, the countries said after a meeting between Prime Minister Narendra Modi and Vice-President JD Vance in Delhi. Vance is currently on a four-day visit to India with his wife and three children.

The US said it’s made “significant progress” toward a bilateral trade deal following talks between Vice President JD Vance and Indian Prime Minister Narendra Modi on Monday, laying down a roadmap for further discussions that New Delhi hopes may shield it from additional tariff hikes.