Washington D.C. | Hobnob News — The United States has signaled a pause in its high-stakes trade negotiations with China, with U.S. Treasury Secretary Scott Bessent confirming Thursday that talks between the two global powers are “a bit stalled.”
Speaking on Fox News, Bessent revealed that while progress has slowed, renewed dialogue is expected soon — possibly even involving direct communication between President Donald Trump and Chinese President Xi Jinping.
“I would say that they are a bit stalled,” Bessent admitted. “But I believe we will be having more talks in the next few weeks. We may, at some point, have a call between the President and Party Chair Xi.”
Tariff Truce: Fragile but Holding
Earlier this month, the world’s two largest economies agreed to a 90-day tariff ceasefire — a rare cooling-off period in their escalating trade war. Under the May 12 agreement, Washington reduced tariffs on Chinese imports from 145% to 30%, while Beijing lowered its duties on American goods from 125% to 10%.
The temporary reprieve came after intense back-channel talks in Geneva, though key sticking points remain unresolved.
Bessent acknowledged the complexity of the negotiations, stating that resolution will likely require top-level leadership.
“Given the magnitude and complexity of these talks, it’s going to require both leaders to weigh in directly,” he noted. “They have a very good relationship, and I am confident that the Chinese will come to the table when President Trump makes his preferences known.”
No Deal Yet, But Hope Remains
The Trump administration has made it clear that any long-term resolution must include stronger protections for intellectual property, market access, and fairer trade terms for American companies. China, for its part, has pushed for the removal of sweeping U.S. tariffs and a return to “normal trade relations.”
While no official meeting between the two leaders has been announced, sources close to the administration hint that a Trump–Xi phone call could happen “in the coming weeks”, potentially rekindling momentum.
