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

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.