United States Treasury Secretary Scott Bessent said on Sunday that President Donald Trump could speak with China\u2019s Xi Jinping \u201cvery soon\u201d and that such a call could help break the logjam in the trade talks between the world\u2019s two biggest economies.<\/p>\n
Trump on Friday accused Beijing of violating a deal reached last month in Geneva \u2014 negotiated by Bessent \u2014 to temporarily lower staggeringly high tariffs they had imposed on each other, in a pause to last 90 days.<\/p>\n
China\u2019s slow-walking on export license approvals for rare earths and other elements needed to make cars and chips have fueled US frustration, The Wall Street Journal reported on Friday \u2014 a concern since confirmed by US officials.<\/p>\n
But Bessent seemed to take the pressure down a notch, telling CBS\u2019s \u2018Face the Nation\u2019 that the gaps could be bridged.<\/p>\n
\u201cI\u2019m confident that when President Trump and Party Chairman Xi have a call that this will be ironed out,\u201d Bessent said, noting that China was \u201cwithholding some of the products that they agreed to release during our agreement.\u201d<\/p>\n
When asked if rare earths were one of those products, Bessent said, \u201cYes.\u201d<\/p>\n
\u201cMaybe it\u2019s a glitch in the Chinese system. Maybe it\u2019s intentional. We\u2019ll see after the president speaks with\u201d Xi, he said.<\/p>\n
On when a Trump-Xi call could take place, Bessent said: \u201cI believe we will see something very soon.\u201d<\/p>\n
Since Trump returned to the presidency, he has slapped sweeping tariffs on most US trading partners, with especially high rates on Chinese imports.<\/p>\n
New tit-for-tat levies on both sides reached three digits before the de-escalation this month, where Washington agreed to temporarily reduce additional tariffs on Chinese imports from 145 per cent to 30pc. China, meanwhile, lowered its added duties from 125pc to 10pc.<\/p>\n
In an interview with ABC\u2019s \u2018This Week\u2019, Commerce Secretary Howard Lutnick said China was \u201cslow-rolling the deal,\u201d adding: \u201cWe are taking certain actions to show them what it feels like on the other side of that equation.<\/p>\n
\u201cOur president understands what to do. He\u2019s going to go work it out,\u201d Lutnick said.<\/p>\n","protected":false},"excerpt":{"rendered":"
United States Treasury Secretary Scott Bessent said on Sunday that President Donald Trump could speak with China\u2019s Xi Jinping \u201cvery soon\u201d and that such a call could help break the logjam in the trade talks between the world\u2019s two biggest economies. Trump on Friday accused Beijing of violating a deal reached last month in Geneva […]<\/p>\n","protected":false},"author":1,"featured_media":9675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-9674","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9674","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9674"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9674\/revisions"}],"predecessor-version":[{"id":9676,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/9674\/revisions\/9676"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/9675"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9674"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9674"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9674"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}