SMM

Bessent: U.S.-China Trade Agreement May Take 2-3 Years, Domestic Spot Market Transactions Remain Mediocre [SMM Tin Morning News] At a recent event hosted by J.P. Morgan that was not open to the public or media, U.S. Treasury Secretary Bessent stated that the tariff standoff between the U.S. and China is unsustainable, and the world's two largest economies must find ways to ease tensions. He said the U.S. goal is not to decouple from China, and the current 145% tariffs on Chinese goods and 125% tariffs on U.S. products are unsustainable. He is optimistic that U.S.-China tensions could cool down in the coming months, alleviating market pressures. However, he also noted that reaching a larger-scale agreement between the two countries may take longer. Spot Market: Yesterday, transactions in the spot market were mediocre. Most traders reported transactions of around 30 mt, with SHFE tin prices fluctuating considerably. Sentiment among downstream and end-user enterprises has increased, with some companies making just-in-time procurement in small quantities.