Scott Bessent says it is China’s responsibility to “de -escalate” the trade war

• Treasury Secretary Scott Bessent told both the United States and China I don’t want the trade war to warm up. However, he said, it is China’s responsibility to say that it does not happen.

As the United States and China look at each other in the midst of their ongoing trade war, the responsibility of ending the Beijing dispute, according to Treasury Secretary, Scott Bessent.

“As I have said repeatedly, I think it depends on China to desk, because they sell us five times more than the ones we sell,” Bessent he said Monday morning at CNBC. “So these 120% rates, 145% are unsustainable.”

Unpleasant pointed out that China had exempted certain north -americans of its 120% rates as proof that it did I don’t want the commercial war to continue. The exemptions that the Chinese government grants are for the products it considers of strategic importance, such as certain types of pharmaceuticals, aerospace equipment and some microchips.

The exemptions “Tell me that they want a de-escalation,” said Bessent.

The United States welcomed that supposed branch of olive trees, added. “What we have not done is to climb -to embark on these goods or to make a commercial ban on goods, which we could if we needed to obtain more levers,” he said. “We haven’t done it.”

Like China, the United States did not want the trade war to get worse, according to Bessent. “I can say -te, I have a climbing scale in my posterior pocket and we are very anxious to not have to use,” he said.

Since trade relations between the United States and China were deteriorated in a plenary War of trade Earlier this month, both parties have sent mixed signals on any openings made to solve the problem. In a number of public statements, President Donald Trump and Bessent said they have talked to members of the Chinese government in recent weeks. Trump I talked to Weather Magazine that Chinese President Xi Jinping had called him to discuss a trade agreement; Ministry of Foreign Affairs of China dispute This account. Bessent, meanwhile, told CNBC that he had talked to his Chinese counterparts last week when they were in Washington, DC, for meetings at the International Monetary Fund.

However, when asked if the conversations were underway, Bessent said that there were “many points of contact” between the United States and China.

After Trump stopped his fare policy, which had originally affected dozens of North -American commercial partners, the White House says he has been dedicated to negotiations for commercial agreements with foreign countries. Although no deals have been completed, Trump administration has been in talks with delegations of Japan and Indiaamong others. Bessent said that the United States is currently in talks with 17 other countries. Trump takes the lead from negotiations with “important commercial partners”, added Bessent.

It markets Any news about commercial treatment of belief will be eager to be more stability for the North -American economy. Since the world markets launched themselves in the crisis as a result of Trump’s fare policy, investors have taken into account that trade agreements will calm down the poignant waters. One of the first offers that the United States could sign would be with India, according to Bessent. “Look at this space,” he said.

This story originally presented to Fortune.com