US-China Trade Talks Stall Despite Recent Truce, Says Treasury Secretary

Trade negotiations between the United States and China have hit a snag, less than three weeks after a temporary truce saw both countries agree to scale back tariffs. U.S. Treasury Secretary Scott Bessent described the discussions as "a bit stalled" in an interview with Fox News on Thursday, citing the complexity of the issues at hand.

“I think that given the magnitude of the talks, given the complexity, this is going to require [leaders of both countries] to weigh in with each other,” Bessent said, suggesting direct engagement between President Trump and Chinese President Xi Jinping may be necessary to move talks forward.

The remarks come on the heels of a partial trade détente reached earlier this month during negotiations in Switzerland. As part of the agreement, both countries pledged to reduce or suspend several tariffs for a 90-day period ending May 14. The United States lowered tariffs on Chinese imports from 145% to 30%, while China cut retaliatory duties on U.S. goods from 125% to 10%.

Despite that progress, Bessent acknowledged that momentum has waned in pursuing a broader deal. “I believe we will be having more talks with [China] in the next few weeks,” he said. “And I believe we may at some point have a call between the president and President Xi.”

Bessent emphasized the cordial relationship between the two leaders and expressed optimism that Beijing would return to the negotiating table once President Trump outlines his expectations. “They have a very good relationship,” he said. “I’m confident that the Chinese will come to the table when President Trump makes his preferences known.”

The trade discussions have unfolded alongside a recent legal setback for the Trump administration's tariff strategy. On Wednesday, a federal ruling found that President Trump had overstepped his authority in implementing some aspects of his global tariff regime. However, the White House’s appeal has temporarily reinstated those measures.

Tariffs have been a central pillar of Trump’s trade policy, aimed at reducing the U.S. trade deficit and encouraging domestic manufacturing by making foreign goods less competitive. The administration has used them as bargaining chips in negotiations with multiple trading partners, including China.

While both sides publicly committed to easing tensions earlier this month, the latest remarks from Bessent signal that a lasting resolution remains elusive.