Trade talks with China stalled, direct involvement of leaders needed, says US Treasury Secretary
&imwidth=600&imheight=450&format=webp&quality=medium "Trade talks with China stalled, direct involvement of leaders needed, says US Treasury Secretary")
US Secretary of the Treasury Scott Bessent in a meeting at the US Treasury Department on May 29, 2025 in Washington, DC. Photograph: (AFP)
Treasury Secretary Scott Bessent emphasised that the complexity of the ongoing trade issues will require both leaders to weigh in personally for a resolution.
Trade negotiations between the United States and China are “a bit stalled”, and reaching a final agreement will likely require direct talks between US President Donald Trump and Chinese President Xi Jinping, US Treasury Secretary Scott Bessent stated in an interview with Fox News on May 29.
Bessent, who played a key role in the breakthrough talks in Geneva, Switzerland, earlier this month that temporarily halted the imposition of tariffs between the two countries, acknowledged that progress since the May truce has been slow.
He emphasised that the complexity of the ongoing trade issues will require both leaders to weigh in personally for a resolution. “They have a good relationship, and I am confident that the Chinese will come to the table when President Trump makes his preferences known,” he said.
Bessent’s remarks come after a period of escalating tensions between the world’s two largest economies. In mid-May, the US and China agreed to a 90-day pause on tariffs, a move that brought relief to global markets. However, this agreement did not address the underlying causes of the trade war, such as China’s state-controlled economy and US concerns over intellectual property theft.
Since the pause, Washington has introduced new measures targeting Chinese technology companies. The US has restricted the export of chip design software and certain jet engine parts to China, further escalating tensions.
Additionally, the Trump administration has begun revoking visas for Chinese students with ties to the Communist Party of China, a move that Beijing has called “discriminatory”.
Trending Stories
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
)
Ongoing negotiations amid legal challenges
While the US-China talks have recently slowed down, Bessent noted that several large trade deals are nearing completion, particularly with other major trading partners like Japan. He is scheduled to meet with a Japanese delegation on Friday in Washington to discuss ongoing trade issues.
However, the legal landscape surrounding US tariffs remains uncertain. This week, the US Court of International Trade ruled that much of the tariffs imposed by the Trump administration were illegal and should be reversed. But just one day later, an appeals court temporarily reinstated the tariffs. Bessent expressed confidence that these legal hurdles would not affect the ongoing trade negotiations, stating, “We have not seen any change in the posture of our trading partners.”
With the 90-day tariff truce set to expire on July 9, Bessent indicated that more talks with China are expected in the coming weeks, but he emphasised that a resolution may depend on high-level diplomacy between Trump and Xi.