May 30, 2025 - Business

Bessent: U.S.-China trade talks "a bit stalled"

Rebecca Falconer

Secretary of the Treasury Scott Bessent gives remarks during a roundtable meeting at the U.S. Treasury Department on May 29, 2025 in Washington, DC. — Treasury Secretary Scott Bessent during a roundtable meeting at the U.S. Treasury Department in Washington, D.C., on Thursday. Photo: Anna Moneymaker/Getty Images

President Trump and Chinese leader Xi Jinping may need to hold a phone call to overcome stumbling blocks in trade negotiations, Treasury Secretary Scott Bessent said Thursday.

The big picture: Bessent helped the U.S. strike a deal with China following a summit in Switzerland earlier this month that saw the world's two largest economies agree to slash tariffs for 90 days.

Officials in China welcomed the U.S. Court of International Trade's blocking most of Trump's sweeping tariffs on Wednesday, which a federal appeals court temporarily stayed a day later.

What they're saying: "I would say that they are a bit stalled," Bessent said of the negotiation situation on Fox News. "I believe that we will be having more talks with them in the next few weeks."

Bessent told Fox News' Bret Baier the U.S. and Chinese leaders may, at some point, have to hold a call.
"Given the magnitude of the talks, given the complexity ... this is going to require both leaders to weigh in with each other," he added.
"They have a very good relationship. And I am confident that the Chinese will come to the table when President Trump makes his preferences known."

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Bessent: U.S.-China trade talks "a bit stalled"

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