Standing outside his friend’s cupcake shop, he says Donald Trump’s levies are a sign that America feels threatened by China’s rise. America’s power is declining, he says. “To be honest, what you feel in today’s world is that hegemony is very hard to achieve.

U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown with China is unsustainable and expects a “de-escalation” in the trade war between the world’s two larg

U.S. Treasury Secretary Scott Bessent on Tuesday said that the tariff standoff with China is unsustainable and that he expects the situation to de-escalate, a source familiar said.