U.S. Treasury Secretary Scott Bessent predicted on Tuesday that China could lose 10 million jobs quickly due to tariffs and that Beijing will see over time that Chinese tariffs are not sustainable.

Good morning. The US Treasury Secretary says it’s up to China to de-escalate the trade war. Sony is considering spinning off its chip unit as it focuses on entertainment. And Aston Villa is weighing the sale of a minority stake in its women’s team.