NEW: Businesses have been marching into the White House to beg for tariff exemptions after Trump offered an important if temporary reprieve to Apple. The latest example were retailers, including Walmart and Target, which visited with Trump on Monday. Link below.

Treasury Secretary Scott Bessent told private investors during a meeting on Tuesday that the spiraling trade war between the United States and China was unsustainable and that he expects a "de-escalation" soon, according to a report from the Associated Press (AP). Newsweek has reached out to the White House for comment on Tuesday.