U.S.-China Trade Optimism: Deal on the Horizon?
U.S. Treasury Secretary Scott Bessent expressed optimism after trade talks in Stockholm, believing a deal with China is forming. Conversations advanced toward a potential agreement benefiting both nations. The U.S. cautiously approached negotiations, aiming for a durable tariff resolution by the August 12 deadline.
U.S. Treasury Secretary Scott Bessent expressed optimism on Friday regarding a potential trade agreement with China, following productive negotiations in Stockholm. In a statement posted on the social media platform X, Bessent shared that discussions with China have progressed, hinting at a beneficial deal for both countries.
The communication, which was briefly removed due to technical issues, was in alignment with Bessent's recent media interactions, where he articulated similar sentiments. During a CNBC interview, he conveyed that although a trade agreement is in sight, it remains incomplete.
According to Bessent, U.S. negotiators were assertive during the meetings, which are crucial as China faces an August 12 deadline to establish a sustainable tariff agreement. Preliminary arrangements were made earlier in May and June to curb the ongoing tariff feud and secure the exchange of rare earth materials.
(With inputs from agencies.)
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