U.S. markets are poised to open with big gains, a clear signs of relief after President Donald Trump said he would not attempt to fire the head of the Federal Reserve and Treasury Secretary Scott Bessent said he expects a “de-escalation” from unsustainable tariffs against China in the trade war between the world’s two largest economies.

US Treasury Secretary Scott Bessent recently said that India is likely to become the first country to finalise a bilateral trade agreement with the United States.

Treasury Secretary Scott Bessent told investors Tuesday that the US-China trade war is unsustainable and he expects the battle to de-escalate, a person familiar with the matter confirmed to CNN, giving a boost to a Wall Street rally that had taken shape this morning.