US Treasury Secretary Scott Bessent stated on Friday that discussions with Chinese officials earlier this week have made progress, although he did not confirm that US President Donald Trump has endorsed the consensus China claims was reached.
Bessent expressed optimism following the negotiations held in Stockholm, saying, “This week’s negotiations have advanced our talks with China, and I believe that we have the makings of a deal that will benefit both of our great nations.” He highlighted the strong relationship between Trump and Chinese President Xi Jinping as a positive factor, but refrained from providing specifics on any agreements established, following the conclusion of talks on Tuesday.
China’s Vice-Minister of Commerce, Li Chenggang, who was also involved in the discussions, indicated that a pause on new tariff increases—which has been in effect since May—will continue. However, no similar commitments or confirmations have come from Trump or Bessent in recent statements.
This situation reflects ongoing complexity and mixed signals from the Trump administration regarding its trade strategy with China, the nation that ranks as the US’s third-largest trading partner after Mexico and Canada. While optimism remains from Bessent’s remarks, the lack of clear communication from higher officials poses challenges for a solidified agreement.
It’s hopeful that as negotiations progress, both parties might find common ground that leads to a sustainable resolution beneficial to both economies, especially given the interdependence that characterizes US-China trade relations.