U.S. Stock Market Latest News: U.S. Treasury Secretary Scott Bessent transfers the market like a pendulum; that’s what he said, stocks soar before cutting earnings

Treasury Secretary Scott Bessent became the focus of market whimsical in his remarks, leading to a brief stock rally, but according to a report, the earnings were revoked later that day.

What does Scott Bessent comment on the U.S.-China trade war?

According to Bloomberg, Best said the current U.S.-China trade war (taxes rise to 145%) is unsustainable and may soon be reduced.
After his comments, the S&P 500 rose to 2.7% from 2% Tuesday afternoon, but later faded out 1.7% according to the Investors Business Daily (IBD) report.

Possibility of misunderstanding

However, according to the IBD, there is no transcript of speech, so his information may be misunderstood. Although Bessent has previously said the U.S. has the upper hand in China due to its massive bilateral trade deficit, meaning that Chinese tariffs cover a smaller portion of U.S.-made goods.

Donald Trump’s optimism about the China deal

And this is not the first instance of the Trump administration, expressing its hopes of reaching an agreement with China. Just last week, U.S. President Donald Trump once said: “I think we will be making a very good deal with China.” As quoted in the report, Trump even posted on his social media website Truth Social “China wants to make a deal. They just don’t know what to do.”

FAQ

How does Bessent’s words affect the stock market?
Bessent’s comments caused a surge in the S&P 500, but the rally eventually lost momentum.

Can Bessent’s words be misunderstood?
Yes, there is no formal transcript, and his remarks may not be fully understood, which may lead to overreaction in the market.