Overview
- The Treasury secretary said negotiations have progressed and he expects further meetings with Beijing.
- Reciprocal tariffs remain suspended until Nov. 10, when they would take effect if no agreement is reached.
- The administration’s April plan envisioned duties on Chinese goods up to 145%, a move paused while talks continue.
- Bessent said U.S. trading partners report Chinese goods are flooding their markets.
- The U.S. trade deficit with China was $128 billion through July, and USTR projects at least a 30% narrowing this year.