Treasury Secretary Scott Bessent said Thursday that trade discussions between the United States and China are “a bit stalled,” and that direct communication between President Donald Trump and Chinese President Xi Jinping is likely to be necessary for a resolution.
Bessent, a top U.S. negotiator on trade agreements, said Fox News that since an agreement was reached on May 12 that would drastically cut tariffs against one another for at least the next ninety days, progress has been slow.
Bessent told Fox News, “I would say that they are a bit stalled,” and he anticipates more discussions in the upcoming weeks.
“I think the president and party chairperson Xi may call at some point.” Scott Bessent, Treasury Secretary
“I believe we may at some point have a call between the president and party Chair Xi … 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 stated. “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.”
In the deal earlier this month, China reduced its duty on U.S. imports from 125% to 10%, and the United States agreed to temporarily lower its tax against Chinese goods from 145% to 30%.
Bessent mentioned that he is meeting with a Japanese delegation on Friday morning and that more trade agreements are still being worked out. “There are a couple of large deals that are close,” he added, adding that following Trump’s warning of 50% tariffs last weekend, the European Union swiftly joined the discussion.
Trump’s tariffs on other nations were declared unconstitutional by a federal trade court on Wednesday, but they were temporarily revived by an appeals court on Thursday as the Trump administration challenges the decision.
