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White House Says Stage Set for China Deal
Posted
April 22, 2025
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April 22, 2025
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5:27Now PlayingBloomberg White House correspondent Josh Wingrove breaks down reports from the White House that the administration is optimistic about a trade deal with China after Treasury Secretary Scott Bessent told a closed-door meeting the current relationship is unsustainable.
US stocks jumped, nearly wiping out Monday’s plunge, as traders unleashed risky bets that the White House will clinch crucial trade deals with top economic partners. The dollar remained steady while short-term Treasury yields climbed.
The S&P 500 rose 2.3% after a series of reports nurtured Wall Street expectations that tariff-related hostilities are easing as the US makes progress in fleshing out agreements.
A volley of tariff-related headlines continue to keep traders engrossed. White House Press Secretary Karoline Leavitt, in a news briefing, said that progress is being made on trade deals and that the “ball is moving in the right direction with China.” It follows a Politico report that the White House is nearing general agreements with Japan and India on trade.
Earlier, stocks had pushed even higher following Bloomberg News’ report of closed-door comments by Treasury Secretary Scott Bessent saying the tariff standoff with China is unsustainable and that he expects the situation to de-escalate.
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