U.S. Treasury Secretary Yellen: No one believes that tariffs on China can continue

ChainCatcher News, U.S. Treasury Secretary Basant stated in an exclusive interview with Bloomberg that the current tariff levels on China are unsustainable and that a "significant agreement" will be reached in the future. He also mentioned that negotiations with some allied countries regarding U.S. reciprocal tariffs are progressing rapidly and hinted that other countries should engage in trade negotiations with the U.S. as soon as possible.

In the interview, Basant responded to the current U.S. tariffs on China by stating that the current tariff figures are very high and cannot be dismissed lightly, "I think no one believes they are sustainable, and no one wants them to remain in place indefinitely." He stated, "There's a big deal to be done at some point."