- US Treasury Says, Trump, Xi Jinping ‘ll Weigh in Soon
By Tajudeen Balogun
The US has said that her trade negotiations with China have been slightly halted.
US Treasury Secretary, Scott Bessent said this, suggesting that President Donald Trump and his Chinese counterpart Xi Jinping, despite the situation, could still get involved.
“I would say that they are a bit stalled,” Bessent told broadcaster Fox News, when asked about trade talks with Beijing.
“I believe that we will be having more talks with them in the next few weeks, and I believe we may, at some point, have a call between the President and Party Chair Xi,” he added.
Checks by The New Diplomat revealed that the world’s two biggest economies agreed this month to pause reciprocal tariffs for 90 days, a surprise de-escalation in their bitter trade war following talks between top officials in Geneva.
Under the May 12 truce, Washington agreed to temporarily reduce the tariff on Chinese imports to 30 percent from 145 percent, while China said it would lower its import duty on American goods to 10 percent from 125 percent.
“I think that given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other,” Bessent added.
He further: “They have a very good relationship, and I am confident that the Chinese will come to the table when President Trump makes his preferences known.”
