The US Treasury Secretary has indicated a possible de-escalation in trade tensions with Beijing, although no formal talks have commenced yet. Trading partners are adopting tough stances as the Trump administration remains firm on tariffs. The stock market experienced a rally following the Secretary’s remarks at a closed-door investor summit, where he stated that the tariff conflict with China is unsustainable. He further mentioned an opportunity for a significant trade deal between China and the US. This signals the US’s openness to reducing trade tensions. — new from Politico