Bessent: U.S. has 'makings of a deal' with China after Stockholm talks
U.S. Treasury Secretary Scott Bessent expressed optimism on Friday about the prospects of a trade agreement with China, following two days of high-level negotiations in Stockholm.
“This week’s negotiations in Stockholm have advanced our talks with China, and I believe that we have the makings of a deal that will benefit both of our great nations,” Bessent wrote in a post on X (formerly Twitter), which was later deleted due to a technical issue. The post was being reposted with corrected images, according to a Treasury Department spokesperson, News.Az reports, citing Reuters.
Bessent reaffirmed the message during an interview with CNBC, emphasizing that while a final agreement has not yet been reached, “we're not 100% done,” but the progress is significant.
U.S. Trade Representative Lisa Greer joined Bessent for the Stockholm talks, which come at a critical moment. China faces a August 12 deadline to finalize a durable tariff agreement with the administration of President Donald Trump.
Washington and Beijing had previously reached preliminary understandings in May and June, aimed at de-escalating a years-long trade dispute that included tit-for-tat tariffs and a Chinese threat to cut off rare earth mineral exports.
Bessent also noted that U.S. negotiators “pushed back quite a bit” during the recent round of discussions, signaling a tougher stance while remaining open to compromise.
The outcome of the upcoming deadline may determine whether both sides can avert another wave of tariffs and stabilize economic relations in an increasingly fragile global trade environment.
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