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U.S.-China trade war not ‘sustainable,’ Trump’s treasury secretary says – National TenX News

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U.S. Treasury Secretary Scott Bessent said in a Tuesday speech that the ongoing tariffs showdown against China is unsustainable and he expects a “de-escalation” in the trade war between the world’s two largest economies.

But in a private speech in Washington for JPMorgan Chase, Bessent also cautioned that talks between the United States and China had yet to formally start. U.S. President Donald Trump placed import taxes of 145% on China, which has countered with 125% tariffs on U.S. goods.

Trump has placed tariffs on several dozen countries, causing the stock market to stumble and interest rates to increase on U.S. debt as investors worry about slower economic growth and higher inflationary pressures.

Details of Bessent’s speech were confirmed by two people familiar with the remarks who insisted on anonymity to discuss them.

“I do say China is going to be a slog in terms of the negotiations,” Bessent said according to a transcript obtained by The Associated Press. “Neither side thinks the status quo is sustainable.”

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The S&P 500 stock index rose 2.5% after Bloomberg News initially reported Bessent’s remarks.

Trump acknowledged the increase in the stock market in remarks to reporters afterward on Tuesday, but he avoided confirming if he, too, thought the situation with China was unsustainable as Bessent had said behind closed doors.

“We’re doing fine with China,” Trump said.


Click to play video: 'White House warns Beijing against further retaliatory tariffs, says it won’t be ‘good for China’'


White House warns Beijing against further retaliatory tariffs, says it won’t be ‘good for China’


Despite his high tariffs, Trump said he would be “very nice” to China and not play hardball with Chinese President Xi Jinping.

“We’re going to live together very happily and ideally work together,” Trump said.

The U.S. president said that the final tariff rate with China would come down “substantially” from the current 145%.

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“It won’t be that high, not going to be that high,” Trump said.

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The Trump administration has met for talks with counterparts from Japan, India, South Korea, the European Union, Canada and Mexico, among other nations. But Trump has shown no public indications that he plans to pullback his baseline 10% tariff, even as he has insisted he’s looking for other nations to cut their own import taxes and remove any non-tariff barriers that the administration says have hindered exports from the U.S.

China on Monday warned other countries against making trade deals with the United States that could negatively impact China.

“China firmly opposes any party reaching a deal at the expense of China’s interests,” China’s Commerce Ministry said in a statement.

White House press secretary Karoline Leavitt said the Trump administration has received 18 proposals from other countries for trade deals with the U.S., adding that “everyone involved wants to see a trade deal happen.”

Trump: ‘I have no intention’ of firing U.S. Fed chair

The uncertainty over tariffs in the financial markets has also been amplified by Trump calling on the Federal Reserve to cut its benchmark interest rate, with the president saying he could fire Fed Chair Jerome Powell if he wanted to do so.

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Leavitt said Trump believes the Fed has held rates steady as it awaits the impacts of tariffs “in the name of politics, rather in the name of what’s right for the American economy.”

Trump later said that he wanted Powell to “be early” in lowering rates and that he has no plan to fire the Fed chair, despite previously suggesting that he would.

“I have no intention of firing him,” Trump told reporters.


Click to play video: 'Why Trump wants to fire the Federal Reserve chair'


Why Trump wants to fire the Federal Reserve chair


Powell has said that Trump’s tariffs are creating uncertainty about slower growth and higher inflationary pressures, while the president maintains that inflationary worries are essentially non-existent.

The president maintains that energy and grocery prices are falling, so the Fed should cut its benchmark rates because inflation is no longer a threat to the U.S. economy, Trump said. His remarks indicated that he still plans to use the bully pulpit to pressure a U.S. central bank that is committed to resisting political pressure as part of its mandate to stabilize prices and maximize employment.

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Trump’s frustration led him to post on social media last Thursday: “Powell’s termination cannot come fast enough!”

The Fed chair’s term ends in May 2026.

On Tuesday, Trump continued to air his grievances about Powell, even though he said the Fed chair would stay on the job despite the president’s belief that inflation is no longer a problem.


“It’s all coming down,” Trump said. “The only thing that hasn’t come down, but hasn’t gone up much, are interest rates. And we think the Fed should lower the rate. We think that it’s a perfect time to lower the rate. And we’d like to see our chairman be early or on time, as opposed to late. Late’s not good.”

Trump again attacked Powell on Monday on his Truth Social account, saying that “there is virtually No Inflation.”

The comment built on a statement by Trump last week that said he believed he could fire Powell, a move that shook financial markets and frightened investors that interest rates might be subject to politics instead of economic fundamentals.

“If I want him out, he’ll be out of there real fast, believe me,” Trump said in the Oval Office last Thursday. “I’m not happy with him.”

The Fed has held off on further reductions to its federal funds rate, which influences the money supply by setting the interest rate that banks can charge each other for overnight loans. That rate is effectively 4.33%, down a fully percentage point since last August as inflationary pressures appeared to ease.

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The Fed had initially raised that rate because of inflation spiking during Joe Biden’s presidency, a byproduct of the global economy recovering from the COVID-19 pandemic and higher energy and food prices after Russia invaded Ukraine in 2022.

But Powell has also been willing to challenge the president’s trade policies. He said last week in a Chicago speech that Trump’s tariff policies would hurt the U.S. economy, a direct warning to a White House trying to sell the import taxes as a long-term positive for the country.

“The level of tariff increases announced so far is significantly larger than anticipated, and the same is likely to be true of the economic effects which will include higher inflation and slower growth,” Powell said last week at the Economic Club of Chicago.



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X outages reported by tens of thousands of users worldwide: Downdetector – National TenX News

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X, formerly Twitter, was down for tens of thousands of users worldwide on Friday, according to outage tracking website Downdetector.com.

There were more than 62,000 reports of issues with the social media platform as of 10:22 a.m. EST, according to Downdetector, which tracks outages by collating status reports from a number of sources.

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Users in the U.K. reported around 11,000 incidents and over 3,000 issues were reported in India.

The actual number of affected users may differ from what is shown on the platform, as the reports are submitted by users.




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Trump says he may tariff countries that don’t ‘go along’ with Greenland plans – National TenX News

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U.S. President Donald Trump suggested Friday that he may punish countries with tariffs if they don’t back the U.S. controlling Greenland, a message that came as a bipartisan Congressional delegation sought to lower tensions in the Danish capital.

Trump for months has insisted that the U.S. should control Greenland, a semiautonomous territory of NATO ally Denmark, and said earlier this week that anything less than the Arctic island being in U.S. hands would be “unacceptable.”

During an unrelated event at the White House about rural health care, he recounted Friday how he had threatened European allies with tariffs on pharmaceuticals.

“I may do that for Greenland too,” Trump said. “I may put a tariff on countries if they don’t go along with Greenland, because we need Greenland for national security. So I may do that,” he said.

He had not previously mentioned using tariffs to try to force the issue.

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Earlier this week, the foreign ministers of Denmark and Greenland met in Washington this week with U.S. Vice President JD Vance and Secretary of State Marco Rubio.

That encounter didn’t resolve the deep differences but did produce an agreement to set up a working group — on whose purpose Denmark and the White House then offered sharply diverging public views.

European leaders have insisted that is only for Denmark and Greenland to decide on matters concerning the territory, and Denmark said this week that it was increasing its military presence in Greenland in cooperation with allies.


Click to play video: 'European troops in Greenland “would not affect” Trump’s views on annexing nation: White House'


European troops in Greenland “would not affect” Trump’s views on annexing nation: White House


A relationship ‘we need to nurture’

In Copenhagen, a group of senators and members of the House of Representatives met Friday with Danish and Greenlandic lawmakers, and with leaders including Danish Prime Minister Mette Frederiksen.

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Delegation leader Sen. Chris Coons, a Delaware Democrat, thanked the group’s hosts for “225 years of being a good and trusted ally and partner” and said that “we had a strong and robust dialog about how we extend that into the future.”

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Sen. Lisa Murkowski, an Alaska Republican, said after meeting lawmakers that the visit reflected a strong relationship over decades and “it is one that we need to nurture.” She told reporters that “Greenland needs to be viewed as our ally, not as an asset, and I think that’s what you’re hearing with this delegation.”


The tone contrasted with that emanating from the White House. Trump has sought to justify his calls for a U.S. takeover by repeatedly claiming that China and Russia have their own designs on Greenland, which holds vast untapped reserves of critical minerals. The White House hasn’t ruled out taking the territory by force.

“We have heard so many lies, to be honest and so much exaggeration on the threats towards Greenland,” said Aaja Chemnitz, a Greenlandic politician and member of the Danish parliament who took part in Friday’s meetings. “And mostly, I would say the threats that we’re seeing right now is from the U.S. side.”

Murkowski emphasized the role of Congress in spending and in conveying messages from constituents.

“I think it is important to underscore that when you ask the American people whether or not they think it is a good idea for the United States to acquire Greenland, the vast majority, some 75%, will say, we do not think that that is a good idea,” she said.

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Along with Sen. Jeanne Shaheen, a New Hampshire Democrat, Murkowski has introduced bipartisan legislation that would prohibit the use of U.S. Defense or State department funds to annex or take control of Greenland or the sovereign territory of any NATO member state without that ally’s consent or authorization from the North Atlantic Council.


Click to play video: 'Greenland’s future no clearer after White House meeting'


Greenland’s future no clearer after White House meeting


Inuit council slams White House

The dispute is looming large in the lives of Greenlanders. Greenland’s prime minister, Jens-Frederik Nielsen, said on Tuesday that “if we have to choose between the United States and Denmark here and now, we choose Denmark. We choose NATO. We choose the Kingdom of Denmark. We choose the EU.””

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The chair of the Nuuk, Greenland-based Inuit Circumpolar Council, which represents around 180,000 Inuit from Alaska, Canada, Greenland, and Russia’s Chukotka region on international issues, said persistent statements from the White House that the U.S. must own Greenland offer “a clear picture of how the US administration views the people of Greenland, how the U.S. administration views Indigenous peoples, and peoples that are few in numbers.”

Sara Olsvig told The Associated Press in Nuuk that the issue is “how one of the biggest powers in the world views other peoples that are less powerful than them. And that really is concerning.”

Indigenous Inuit in Greenland do not want to be colonized again, she said.

&copy 2026 The Canadian Press



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Trump gifted Nobel Peace Prize by Venezuela’s María Corina Machado – National TenX News

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Venezuelan opposition leader María Corina Machado said she presented her Nobel Peace Prize medal to President Donald Trump at the White House on Thursday even as he has questioned her credibility to take over her country after the U.S. ousted then-President Nicolás Maduro.

The Nobel Institute has said Machado could not give her prize to Trump, an honour that he has coveted. Even if the gesture proves to be purely symbolic, it was extraordinary given that Trump has effectively sidelined Machado, who has long been the face of resistance in Venezuela. He has signalled his willingness to work with acting President Delcy Rodríguez, who had been Maduro’s second in command.

“I presented the president of the United States the medal, the Nobel Peace Prize,” Machado told reporters after leaving the White House and heading to Capitol Hill. She said she had done so “as a recognition for his unique commitment with our freedom.”

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Trump confirmed later on social media that Machado had left the medal for him to keep, and he said it was an honour to meet her.

“She is a wonderful woman who has been through so much. María presented me with her Nobel Peace Prize for the work I have done,” Trump said in his post. “Such a wonderful gesture of mutual respect. Thank you María!”

The White House later posted a photo of Machado standing next to Trump in the Oval Office as he holds the medal in a large frame. A text in the frame reads, “Presented as a personal symbol of gratitude on behalf of the Venezuelan people in recognition of President Trump’s principled and decisive action to secure a free Venezuela.”

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Trump has raised doubts about his stated commitment to backing democratic rule in Venezuela, giving no timetable on when elections might be held. Machado indicated that he had provided few specifics on that front during their discussion.

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She did not provide more information on what was said.

‘We can count on President Trump’


After the closed-door meeting, Machado greeted dozens of cheering supporters waiting for her near the White House gates, stopping to hug many.

“We can count on President Trump,” she told them without elaborating, prompting some to briefly chant, “Thank you, Trump.”

Before her visit to Washington, Machado had not been seen in public since she travelled last month to Norway, where her daughter received the peace prize on her behalf. She had spent 11 months in hiding in Venezuela before she appeared in Norway after the ceremony.

The jubilant scene after her meeting with Trump stood in contrast to political realities in Venezuela. Rodríguez remains in charge of day-to-day government operations, along with others in Maduro’s inner circle. In her first state of the union speech Thursday, the interim president promoted the resumption of diplomatic ties between the historic adversaries and advocated for opening the state-run oil industry to more foreign investment after Trump pledged to seize control of Venezuelan crude sales.

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Click to play video: 'Trump says ‘not a thing’ Denmark can do if Russia or China wants to ‘occupy’ Greenland'


Trump says ‘not a thing’ Denmark can do if Russia or China wants to ‘occupy’ Greenland


Trump has said it would be difficult for Machado to lead because she “doesn’t have the support within or the respect within the country.” Her party is widely believed to have won 2024 elections rejected by Maduro.

White House press secretary Karoline Leavitt called Machado “a remarkable and brave voice” but also said the meeting didn’t mean Trump’s opinion of her changed, calling it “a realistic assessment.”

Leavitt told reporters that Trump supported new Venezuelan elections “when the time is right” but did not say when he thought that might be.

A ‘frank and positive discussion’ about Venezuela

Leavitt said Machado had sought the face-to-face meeting without setting expectations for what would occur. She spent about two and a half hours at the White House.

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“I don’t think he needs to hear anything from Ms. Machado,” the press secretary said while the meeting was still going on, other than to have a ”frank and positive discussion about what’s taking place in Venezuela.”

After leaving the White House, Machado went on to a closed-door meeting with a bipartisan group of senators.

Sen. Chris Murphy, D-Conn., said Machado told them that “if there’s not some progress, real progress towards a transition in power, and/or elections in the next several months, we should all be worried.”

“She reminded us that Delcy Rodríguez is, in many ways, worse than Maduro,” he added.

Asked if Machado had heard any commitment from the White House on holding elections in Venezuela, Murphy said, “No, I don’t think she got any commitment from them.”


Click to play video: 'Trump backs Maduro ally in Venezuela, sidelines opposition leader Machado'


Trump backs Maduro ally in Venezuela, sidelines opposition leader Machado


Sen. Bernie Moreno, an Ohio Republican, was exultant following the meeting, saying Machado “delivered a message that loud and clear: What President Trump did was the most important, significant event in Latin America. That getting rid of Maduro was absolutely essential.”

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Machado’s Washington stop coincided with U.S. forces in the Caribbean Sea seizing another sanctioned oil tanker that the Trump administration says had ties to Venezuela. It is part of a broader U.S. effort to take control of the South American country’s oil after U.S. forces captured Maduro and his wife less than two weeks ago at a heavily guarded compound in the Venezuelan capital of Caracas and brought them to New York to stand trial on drug trafficking charges.

Leavitt said Venezuela’s interim authorities have been fully cooperating with the Trump administration and noted that Rodríguez’s government said it planned to release more prisoners detained under Maduro. Among those released were five Americans this week.

Trump said Wednesday that he had a “great conversation” with Rodríguez, their first since Maduro was ousted.

Machado doesn’t get the nod from Trump

Just hours after Maduro’s capture, Trump said of Machado that “it would be very tough for her to be the leader.” Machado had steered a careful course to avoid offending Trump, notably after winning the peace prize, and had sought to cultivate relationships with him and key administration voices like Secretary of State Marco Rubio.

The industrial engineer and daughter of a steel magnate, Machado began challenging the ruling party in 2004, when the nongovernmental organization she co-founded, Súmate, promoted a referendum to recall then-President Hugo Chávez. The initiative failed, and Machado and other Súmate executives were charged with conspiracy.

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A year later, she drew the anger of Chávez and his allies again for travelling to Washington to meet President George W. Bush, whom Chávez considered an adversary.

Almost two decades later, she marshalled millions of Venezuelans to reject Chávez’s successor, Maduro, for another term in the 2024 election. But ruling party-loyal electoral authorities declared him the winner despite ample credible evidence to the contrary. Ensuing anti-government protests ended in a brutal crackdown.



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