US-China Trade Talks Hit Roadblock, Says US Treasury Chief

Trade discussions between the United States and China have “stalled”, according to US Treasury Secretary, Scott Bessent. This comes just weeks after both countries agreed to reduce tariffs on each other’s goods, raising hopes for a lasting solution to their long-running trade battle.

Speaking to Fox News on Thursday, Bessent said,

 “I think that given the magnitude of the talks, given the complexity, that this is going to require [leaders of both the countries] to weigh in with each other.”

 He believes that only direct talks between President Donald Trump and Chinese President Xi Jinping can move things forward.

Earlier this month, both countries agreed to cut tariffs for 90 days. The US reduced tariffs on Chinese products from 145% to 30%, while China dropped its tariffs on American goods from 125% to 10%. Some tariffs were also cancelled completely.

Despite this progress, Bessent admitted that talks have “lost momentum”, but he stressed that negotiations are still ongoing.

He said,

 “I believe that we will be having more talks with [China] in the next few weeks and I believe we may at some point have a call between the president and [Chinese President Xi Jinping].”

He added that the two leaders have “a very good relationship” and expressed confidence that China would return to the negotiating table once President Trump makes his intentions clear.

In another development, President Trump’s tariff policy faced a setback after a US court ruled that he had exceeded his authority by imposing some of the tariffs. However, the White House has appealed the decision, and the tariffs are temporarily back in place while the legal battle continues.

President Trump defended his actions, saying that tariffs would encourage Americans to buy locally-made goods and help bring back manufacturing jobs. He also said the tariffs would increase government revenue.

Meanwhile, Japan is also holding trade talks with the US in Washington.

Bessent said that while some US trade deals are “very close”, others are proving to be “more complicated”.

Some experts believe that the court ruling may make other countries less eager to sign trade deals with the US, as the legal situation remains uncertain.

President Trump, reacting to the court ruling, wrote on his Truth Social platform:
“Hopefully, the Supreme Court will reverse this horrible, Country [sic] threatening decision, QUICKLY and DECISIVELY.”

For now, the world is watching to see if the US and China can overcome their differences and reach a lasting agreement.

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