FX.co ★ U.S.-China Trade Talks Stall, Await Leadership Push

U.S. trade discussions with China have encountered delays and may necessitate direct intervention from President Trump and President Xi Jinping to progress, according to Treasury Secretary Scott Bessent on Thursday. In a conversation with Fox News, Bessent remarked that despite achieving a temporary resolution two weeks prior, advancements have decelerated. "I anticipate we might eventually see a call between the president and Chair Xi," he stated, emphasizing that the intricate nature of the negotiations "will demand input from both leaders." Since mid-May, the Trump administration has concentrated on tariff negotiations with other significant partners, including India, Japan, and the European Union (EU). Recently, Trump threatened 50% tariffs on EU goods but has postponed any action for the time being. Bessent had earlier highlighted that several trade partners, such as Japan, are negotiating earnestly and that the recent trade court decision has not influenced their position. He also mentioned that he is set to meet with a Japanese delegation in Washington on Friday.