Particle.news
Download on the App Store
25 ARTICLES
·
last mo.

Trade Talks With China Stall as Bessent Seeks Trump-Xi Call

Treasury Secretary Scott Bessent warned that the 90-day tariff truce risks expiring without direct presidential involvement to revive negotiations.

U.S. Secretary of the Treasury Scott Bessent speaks with China's Vice Minister of Finance Liao Min, on the day of a bilateral meeting between the U.S. and China, in Geneva, Switzerland, May 11, 2025. KEYSTONE/EDA/Martial Trezzini/Handout via REUTERS /File Photo
U.S. Treasury Secretary Scott Bessent testifies before a House Financial Services Committee hearing entitled "The Annual Testimony of the Secretary of the Treasury on the State of the International Financial System," on Capitol Hill in Washington, D.C., U.S., May 7, 2025. REUTERS/Nathan Howard/File Photo
From left: Shakira, a stage at Boston’s Fenway Park and Jason Aldean.

Overview

  • Bessent said progress has slowed since the Geneva agreement and that Presidents Trump and Xi may need to speak directly to break the impasse
  • The temporary ceasefire, which rolled back tariffs above 100% on both sides, is set to lapse on August 10
  • A federal appeals court has reinstated most of Trump’s tariffs after a trade court ruled they exceeded his authority
  • The US has tightened semiconductor export controls and moved to revoke visas for Chinese students, increasing tensions
  • Bessent noted that separate negotiations with the EU and Japan are advancing, with several large deals nearing completion