WASHINGTON (AP) — 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.

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.

China on Monday warned other countries against making trade deals with the United States to China’s detriment. Governments including those of Taiwan, Japan and South Korea have begun negotiations with Washington after President Donald Trump announced sweeping tariffs against almost all of America’s trading partners on April 2.

China says it will retaliate against other countries who work with the United States in any way that could compromise its interests.

Here's the latest on the trade war over the past 24 hours. Beijing warned countries not to do trade deals with the U.S. that isolate China. President Trump fired off [tariff talking points]