() Treasury Secretary Scott Bessent admitted to lawmakers that the U.S. is not currently in negotiations with China when it comes to tariffs.
That comes contrary to President Donald Trump’s repeated claims that China is “ready to deal” and that Chinese President Xi Jinping had called him to discuss trade.
When asked about Bessent’s remarks, Trump again repeated his assertion that China wants to make a deal but admitted there have been no meetings.
While the president put a pause on other tariffs, he has continued his 145% tariff on Chinese goods coming to the U.S. He also removed the de minimis exception that allowed goods under $800 to enter the U.S. without tariffs, a policy relied on by both individual shoppers and small, independent business owners.
In response, China levied its own tariffs on U.S. goods as well as making deals with other countries for goods it typically imports from the U.S.
Xi has denied Trump’s assertions that he is ready to deal, something that appeared to be confirmed by Bessent’s comments to lawmakers on the House Appropriations Committee. He said the U.S. was in talks with major trading partners except for China.
Bessent said deals with some major trading partners were in the works and that he expected the majority of countries would reach a deal by the end of the year.
Already, tariffs have led to a significant slowdown in ships arriving at U.S. ports, with experts warning that consumers could see empty shelves in days to come.
