Hopeful Trade Talks: U.S. and China Nearing a Breakthrough

Kevin Hassett, White House economic adviser, expressed optimism for advancing trade discussions with China. Although personally uninvolved in talks, Hassett cited recent tariff reductions by China as a positive signal, indicating possible progress towards a trade agreement.

On Thursday, White House economic adviser Kevin Hassett conveyed optimism about ongoing trade discussions with China, crediting 'loose discussions' between the two governments. While he hasn't personally held talks with Chinese officials, Hassett remains hopeful for progress.

During an interview on CNBC's 'Squawk Box,' Hassett highlighted China's recent tariff reductions as a sign of approaching breakthroughs in negotiations. 'We're hopeful for progress,' he remarked, emphasizing that China's actions could signify a meaningful advancement.

Hassett's comments come at a crucial time as both countries work towards easing the ongoing trade tensions, aiming to secure economic stability and forward momentum in international relations.

(With inputs from agencies.)