US Treasury Secretary Bessent says tariffs could be back in place to previous levels by July, and doesn't think there's a big risk from Trump's China trip; US wants to de-risk, not decouple from China and China's global trade surplus is getting excessive

Treasury Secretary Bessent's comments on the potential reinstatement of tariffs suggest a cautious approach rather than a full-scale trade war. His emphasis on wanting to 'de-risk' rather than decouple indicates a desire for ongoing economic engagement with China, which could stabilize market sentiment, albeit with concerns over China’s growing trade surplus. This nuanced positioning might lead investors to reassess their strategies across currencies and commodities, particularly in relation to risk assets and the dollar.