Bessent: Chinese exemptions show they want a de-escalation on trade

• It is a complicated relationship with China
• US has had substantial discussions with Japanese allies on trade
• Chinese exemptions show they want a de-escalation on trade
• Europeans are panicked about strength of euro
• 17 important trading partners have made ‘very good proposals’ to avert US tariffs
• Negotiations with Asian trading partners going very well
• Says he was surprised when markets rallied after remarks at JPMorgan conference, didn’t say anything new

He’s going with “it was the market’s fault” as his defense for telling market-moving information to a private group.

In any case, could be trying to smooth the way for Trump to ease China tariffs by highlighting the exemptions.

This article was written by Adam Button at www.forexlive.com.