World NewsU.S.-China trade talks hit stalemate despite tariff cuts
U.S.-China trade talks hit stalemate despite tariff cuts
U.S. Treasury Secretary Scott Bessent stated in an interview with Fox News that the trade negotiations between the U.S. and China are "a bit stalled."
In May, Beijing and Washington agreed to suspend the tariffs they had previously imposed on each other for 90 days. This was described by AFP as a surprising de-escalation resulting from bilateral ministerial talks held in Geneva on May 10-11.
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 [Jinping]," Bessent said on Thursday.
As part of the temporary solution reached at that time, Washington and Beijing agreed to reduce tariffs. The U.S. decreased tariffs from 145% to 30% on Chinese products, and China reduced tariffs from 125% to 10% on American products.
