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.

Secretary Treasury Scott Bessent said both the U.S. and China don’t want the trade war to escalate. However, he said, it’s China’s responsibility to ensure that doesn’t happen. As the U.S. and China stare each other down amid their ongoing trade war,

US and China tariff tensions continue to dominate the focus, with signs of deescalation mounting even as President Trump sent mixed signals on the state of relations. On Monday, it was reported that Asian economies like South Korea,