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Summers Salutes Bessent on China Deal, Says US Retreat Pragmatic
Former Treasury Secretary Lawrence Summers applauded the Trump administration’s walk-back from what he characterized as overly aggressive trade protection measures, singling out Scott Bessent in particular for his weekend work with China.
Bessent sees tariff agreement as progress in ‘strategic' decoupling with China
The trade pact reached over the weekend represents another stage in the U.S. shaking its reliance on Chinese products, the Treasury chief said.
Bessent show: Treasury secretary taking over as top dog on Trump’s trade team
An alumnus of the first Trump White House assessed that, of Trump’s Cabinet, Bessent seems to be the “most serious person in the room.”
Surprise U.S.-China Trade Deal Gives Global Economy Reprieve
The de-escalation provides both sides with breathing space to find a way to preserve trading ties that were threatening to grind to a halt.
US-China deal to slash tariffs also eases burden on cheap packages
Online shoppers in the U.S. will see a price break on their purchases valued at less than $800 and shipped from China after the Trump administration reached a truce with Beijing over sky-high tariffs.
U.S.-China tariffs deal jolts stock markets and boosts economic outlook
The U.S.-China tariff deal sent the tech-heavy Nasdaq soaring, entering a bull market, and economists are optimistic that the U.S. may dodge a recession.
Dow sees huge surge as US stocks open strong on trade deal with China
A deal with China is a relief to investors who worried tariffs as high as 145% would severely limit trade, raise prices and hurt the U.S. economy.
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