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US Treasury Secretary Scott Bessent sees a significant opportunity for a major US-China trade deal, contingent on China's commitment to economic restructuring. Bessent believes a deal is possible if China reduces its reliance on export-led manufacturing growth. His comments follow recent escalating tariffs imposed by both countries, causing market volatility. He also urged the IMF and World Bank to refocus on core missions of economic stability and development.

Prepared by Christopher Adams and reviewed by editorial team.