Treasury Secretary Scott Bessent on Monday put the responsibility for reaching a trade agreement on China. "I believe that it's up to China to de-escalate, because they sell five times more to us than we sell to them,

The Treasury secretary said that the President Trump and Xi Jinping of China have a good relationship but that he was not aware of a call, which Mr. Trump had alluded to last week.

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.