Stock futures were pointing to losses on Thursday, with investors still trying to make sense of the U.S.-China trade war after Treasury Secretary Scott Bessent signaled that Washington and Beijing were yet to start negotiations on tariffs.

Treasury Secretary Scott Bessent said at a closed-door JPMorgan investor summit that he expects trade tensions with China to de-escalate, according to people in the room Tuesday for his remarks. Bessent told attendees that although negotiations haven't started,

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent said on Wednesday that high tariffs between the United States and China are not sustainable, as President Donald Trump's administration signaled openness to de-escalating a trade war between the world's two largest economies that has raised fears of recession.