Scott Bessent called China’s economic model “unsustainable” as White House officials indicated trade negotiations were continuing.

Scott Bessent told finance leaders that “America first does not mean America alone” in a bid to heal the worldwide rifts caused by Donald Trump’s first 100 days in office. The treasury secretary said Tuesday that the president was not a “trained diplomat” but was simply looking for a “beautiful rebalancing” of world trade after his chaotic tariffs sparked tumult on Wall Street and left the United States increasingly isolated.

U.S. markets are poised to open with big gains, a clear signs of relief after President Donald Trump said he would not attempt to fire the head of the Federal Reserve and Treasury Secretary Scott Bessent said he expects a “de-escalation” from unsustainable tariffs against China in the trade war between the world’s two largest economies.