Secretary Treasury Scott Bessent said both the U.S. and China don’t want the trade war to escalate. However, he said it’s China’s responsibility to ensure that doesn’t happen. As the U.S. and China stare each down amid their ongoing trade war,

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.

US Treasury Secretary Scott Bessent on Monday said many top trading partners of the United States had made ‘very good’ proposals to avert US tariffs, and one of the first deals to be signed would like