Trade Turbulence Reignites as Bessent Flags Stalled US-China Deal
It looks like the fragile peace between the United States and China over tariffs is beginning to fray — again. And this time, Treasury Secretary Scott Bessent’s remarks have made it crystal clear: the momentum from the recent Geneva talks is fading fast. Just days after President Trump triumphantly announced a temporary easing of tariffs, he’s now accusing China of violating the agreement. That statement alone has triggered a wave of uncertainty across global markets, but it’s what Bessent revealed that really sharpens the picture.
During a candid interview on Fox News, Bessent acknowledged that trade negotiations with China have become "a bit stalled." That’s a polite way of saying that the progress both sides touted earlier this month has all but hit a wall. While the Geneva talks resulted in both countries slashing tariffs — the U.S. dropping from 145% to 30%, and China lowering theirs from 125% to 10% — the devil, as always, is in the details. According to Bessent and U.S. Trade Representative Jamieson Greer, China has been slow to remove non-tariff barriers and other retaliatory measures like blacklisting American firms and restricting critical exports such as rare earth magnets.
Also Read:- Jeremie Frimpong Joins Liverpool in £29.5m Move – A Speedy New Era Begins
- Zion Williamson Faces Disturbing Rape and Abuse Allegations in Civil Lawsuit
President Trump, never one to downplay his views, took to Truth Social and bluntly accused China of completely violating the deal. His message was equal parts frustration and fury, claiming that he made a fast deal to "save" China from economic disaster, only to be betrayed. And while he didn’t offer specifics, Bessent and Greer filled in the blanks. The U.S. side argues it upheld its end of the deal while China is dragging its feet — a move Washington finds unacceptable.
What’s more, Bessent didn’t sound too hopeful about an immediate resolution. He mentioned the need for high-level engagement, perhaps even a direct conversation between Trump and President Xi Jinping, to get things back on track. He stressed that the relationship between the two leaders remains intact and constructive, but it’s going to take more than diplomacy to overcome the current impasse.
Meanwhile, China is pushing back, accusing the U.S. of imposing discriminatory export controls, particularly in the semiconductor space. Beijing is urging Washington to correct its “erroneous actions” and return to the spirit of the Geneva consensus.
So, where does that leave us? Right now, in a very precarious place. The supposed truce is unraveling quickly, and with courts challenging Trump’s tariff authority and tensions ramping up again, the future of this trade détente is more uncertain than ever. Scott Bessent's remarks give us a rare, unfiltered glimpse into the inner workings of these negotiations — and it’s clear the road ahead is anything but smooth.
Read More:
0 Comments