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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 worlds two largest economies.
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The government borrowed more than expected last year, placing more pressure on the public finances ahead of the full impact of US tariffs.
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The tech giants have reacted with fury, accusing the EU of unfairly pursuing US companies.
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