Treasury Secretary Scott Bessent told private investors during a meeting on Tuesday that the spiraling trade war between the United States and China was unsustainable and that he expects a "de-escalation" soon, according to a report from the Associated Press (AP). Newsweek has reached out to the White House for comment on Tuesday.

There’s a key difference between an iPhone and Samsung Galaxy phone that may matter now more than ever: One was likely assembled in China, while the other was probably produced in Vietnam, India or South Korea.

President Trump said 145% tariffs on Chinese imports will "come down substantially" as his administration expressed optimism about a trade deal.