US Treasury Secretary Scott Bessent said Thursday that trade negotiations with China are currently stalled and may require direct involvement from President Donald Trump and Chinese President Xi Jinping to move forward. Speaking to Fox News, Bessent highlighted the complexity of the talks and said progress has slowed since the temporary 90-day truce reached earlier this month.
“Given the magnitude of the talks, given the complexity … this is going to require both leaders to weigh in with each other,” Bessent said, expressing confidence that China would respond once Trump makes his position clear.
The temporary deal helped calm markets but failed to address deeper US concerns about China’s state-controlled economic model. Since then, the Trump administration has turned its focus to trade talks with other partners, including Japan, India, and the EU.
Bessent earlier said that some trading partners, including Japan, were negotiating in good faith and showed no change in stance following the trade court ruling. He’s scheduled to meet a Japanese delegation in Washington on Friday.
Earlier on Wednesday, a US trade court ruled that President Trump exceeded his authority by imposing most tariffs on Chinese and other imports under an emergency powers act. However, within 24 hours, a federal appeals court reinstated the tariffs, temporarily pausing the lower court’s decision to review the government’s appeal. The court has set deadlines, with plaintiffs required to respond by June 5 and the administration by June 9.
With inputs from Reuters