U.S.-China trade talks 'a bit stalled' and need Trump and Xi to weigh in, Bessent says
Share this @internewscast.com

BEIJING — U.S.-China trade discussions have encountered some obstacles, necessitating direct communication between the leaders of the two nations, Treasury Secretary Scott Bessent mentioned during an interview with Fox News on Thursday in the local time zone.

“I anticipate that we will engage in further discussions with them in the coming weeks,” he stated, noting the possibility of a call between the countries’ leaders “at some point.”

Following a significant increase in trade tensions last month, Bessent played a role in helping the world’s two largest economies achieve a breakthrough agreement in Switzerland on May 12. As part of the agreement, the countries decided to temporarily reverse recent tariff hikes exceeding 100% for a 90-day period, lasting until mid-August. Diplomatic representatives from both sides held a call late last week.

Still, the U.S. has pushed ahead with tech restrictions on Beijing, drawing its ire, while China has yet to significantly ease restrictions on rare earths, contrary to Washington’s expectations.

“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 said. “They have a very good relationship and I am confident that the Chinese will come to the table when President [Donald] Trump makes his [preferences] known.”

Trump and Chinese President Xi Jinping last spoke in January, just before the U.S. president was sworn in for his second term. While Trump has in recent weeks said he would like to speak with Xi, analysts expect China to agree to that only if there is certainty that there will be no surprises from the U.S. during the call.

China has maintained communication with the U.S. since the agreement in Switzerland, Chinese Ministry of Commerce Spokesperson He Yongqian told reporters at a regular briefing Thursday.

But regarding chip export controls, she said that “China again urges the U.S. to immediately correct its wrong practices … and together safeguard the consensus reached at high-level talks in Geneva.”

That’s according to a CNBC translation of her Mandarin-language remarks.

When asked whether China would suspend rare earths export controls announced in early April, He did not respond directly. Restrictions on items that could have both military and civilian applications reflect international practice, as well as China’s position of “upholding world peace and regional stability,” she said.

This week, the Trump administration also announced it would start revoking visas for Chinese students.

“The U.S. decision to revoke Chinese student visas is fully unjustified,” Chinese Foreign Ministry spokesperson Mao Ning said Thursday, according to an official English transcript. “It uses ideology and national security as pretext.”

Share this @internewscast.com
You May Also Like

Tesla Shares Plunge 8% Amid Resurgence of Trump-Musk Rivalry

Shares of Tesla tumbled 8% at the opening bell Monday as the…

Amazon announces closure of Freevee streaming service: What does this mean for its shows?

(NEXSTAR) – Amazon Freevee users who are hopelessly addicted to reruns of…

‘Heartbreaking Task: Volunteers Comb Texas Flood Debris for Missing Persons’

CENTER POINT, Texas (KXAN) — While local, state and federal assets have…

Savannah Police Officer Collides with Driver, Destroying Car During Suspected Pursuit

SAVANNAH, Ga. – A Savannah Police officer allegedly backed into a citizen’s…

Tesla Investors Unfazed by Elon Musk’s New Political Party Announcement

() Elon Musk says he’s starting a new political party, but Tesla…

Search and Rescue Teams Hunt for Survivors in Texas Floods as Death Count Rises

Not sure how to find on your TV? Find your channel here. …

Flooding Danger Remains Severe in Texas with Over 80 Fatalities

The threat of life-threatening floods remained high in central Texas on Monday…

Texas Faces Ongoing Flood Threat as Death Toll Surpasses 80

KERRVILLE, Texas (AP) — In central Texas, the risk of life-threatening flooding…

New Flood Warning Announced for Central Texas Regions Already Experiencing Flooding

() The National Weather Service has issued a new flash flood watch…

Texas Representative Explains Opposition to Emergency Alert Bill During Flood Crisis

() A Texas state representative defended his vote against a $500 million…

Bill O’Reilly: Democrats’ Intense Anti-Trump Messaging Shows ‘Desperation’

() Bill O’Reilly believes Democrats criticizing President Trump following the deaths of…

Chuck E. Cheese Launches Adult-Friendly Arcades in 8 States

(NEXSTAR) – Too old to throw your next birthday party at a…