Secretary Treasury Scott Bessent said both the U.S. and China don’t want the trade war to escalate. However, he said it’s China’s responsibility to ensure that doesn’t happen. As the U.S. and China stare each down amid their ongoing trade war,

The Treasury secretary said that the President Trump and Xi Jinping of China have a good relationship but that he was not aware of a call, which Mr. Trump had alluded to last week.