U.S. markets opened with big gains and clear signs of relief after President Donald Trump said he would not attempt to fire the head of the Federal Reserve and his Treasury Secretary Scott Bessent said he expects a “de-escalation” in what he called an unsustainable tariffs showdown against China. “There is an opportunity for a big deal here,” Bessent said in a Wednesday morning speech.
China, meanwhile, said the Trump administration should stop trying to bully and blackmail its trading partner, and some on Wall Street expressed skepticism that Trump is done testing the limits of bellicose rhetoric on trade.
Two major law firms will be in court asking judges on Wednesday to permanently block Trump’s executive orders that are designed to punish them and hurt their business operations.
And U.S. partners are taking stock of Secretary of State Marco Rubio ‘s…
