Treasury Secretary Scott Bessent sparked optimism in financial markets Tuesday when he called the tariff-driven trade war between the U.S. and China "unsustainable" and said it would likely "de-escalate.

Treasury Secretary Scott Bessent told investors Tuesday that the US-China trade war is unsustainable and he expects the battle to de-escalate, a person familiar with the matter confirmed to CNN, giving a boost to a Wall Street rally that had taken shape this morning.

Canadian businessman Kevin O’Leary once again called on President Donald Trump to hit China with an aggressive 400% tariff, while downplaying the economic conflict between Trump and Chinese President Xi Jinping as the two “playing a game of chicken.