U.S.-China Trade Deal May Take Years, Treasury Secretary Predicts

U.S. Treasury Secretary Scott Bessent has warned that reaching a complete trade agreement with China may take up to three years due to the complex nature of these negotiations. This statement came during a recent event in Washington, D.C., where Bessent also noted that neither side believes the current status quo is sustainable. Despite the pessimistic outlook, market optimism surrounding a potential easing of trade tensions led to a sharp increase in the S&P 500 index. Global equities markets experienced significant volatility as a result of Bessent’s remarks.