Key Takeaways Treasury Secretary Scott Bessent said the U.S.-China tariff war is "unsustainable" and will likely "de-escalate."Bessent's comments fueled a stock market rally due to the prospect of a deal ending a trade war that could be destructive to both economies.

U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown against China is unsustainable and expects a "de-escalation" in the trade war between the world's two largest economies.

Global markets have been shaken to their core by President Donald Trump’s aggressive trade agenda — and despite his promise of a “new golden age of America,” the long-held appeal of US investment is starting to lose its luster.