As the deadline for tariff exemptions between the United States and China approaches, Scott Bessent, the U.S. Secretary of the Treasury, has expressed confidence that a trade agreement can be reached.
In an interview with U.S. CNBC on the 31st, Secretary Bessent said, "I believe we have laid the groundwork for an agreement (with China)." He noted that "there are still several details to resolve between China and the United States," but added, "I am confident it will be finalized."
The United States and China conducted a third round of high-level trade negotiations in Stockholm, Sweden, from the 28th to the 29th. Secretary Bessent described China as a tough negotiating partner and explained that this round of discussions was not easy. However, he did not reveal specific details of the final negotiations.
Secretary Bessent also stated that he had not yet discussed the results of the negotiations with President Donald Trump. Previously, President Trump emphasized that he must personally approve any negotiations with China.
The United States and China traded retaliatory tariffs before entering a 90-day truce. The deadline for negotiations is August 12.