Treasury Secretary Scott Bessent on Tuesday reassured attendees of a closed-door JPMorgan investor summit that he expects the trade war with China to de-escalate, according to people in the room for his remarks.

U.S. Treasury Secretary Scott Bessent reportedly told a closed-door audience on Tuesday that he expects a "de-escalation" in the trade war between the U.S. and China in the "very near future." His remarks,