According to Bloomberg, U.S. Treasury Secretary Scott Bessent stated at a closed-door investment summit in Washington that the tariff standoff with China is unsustainable and expects the situation to ease, although a comprehensive agreement may still take two to three years. He emphasized that the U.S. does not seek to depeg from China. On the same day, White House Press Secretary Karoline Leavitt stated that several countries, including China, are negotiating trade arrangements with the U.S., and Trump believes that progress on the U.S.-China agreement is "going very smoothly," but she did not confirm whether U.S. and Chinese leaders have had direct communication. Media reports indicate that the U.S. is nearing a high-level framework agreement with Japan and India, with specific details to be finalized in the future.
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U.S. Treasury Secretary expects easing of U.S.-China tariff deadlock, White House says agreement is progressing smoothly.
According to Bloomberg, U.S. Treasury Secretary Scott Bessent stated at a closed-door investment summit in Washington that the tariff standoff with China is unsustainable and expects the situation to ease, although a comprehensive agreement may still take two to three years. He emphasized that the U.S. does not seek to depeg from China. On the same day, White House Press Secretary Karoline Leavitt stated that several countries, including China, are negotiating trade arrangements with the U.S., and Trump believes that progress on the U.S.-China agreement is "going very smoothly," but she did not confirm whether U.S. and Chinese leaders have had direct communication. Media reports indicate that the U.S. is nearing a high-level framework agreement with Japan and India, with specific details to be finalized in the future.