U.S.-China Trade Talks Face New Hurdles

U.S. trade discussions with China have hit a standstill, with the involvement of President Trump and President Xi Jinping needed to secure a deal. Despite a short-term truce, further progress is slow. These talks are crucial for addressing longstanding U.S. concerns about China's economic practices.

The trade discussions between the U.S. and China have reached a standstill, according to U.S. Treasury Secretary Scott Bessent, who indicated that Presidential involvement might be necessary to finalize a deal. Bessent's comments come two weeks after negotiations resulted in a temporary truce in the ongoing trade war.

The discussions, characterized by Bessent as complex and requiring the intervention of both leaders, stand crucial to resolving the underlying issues related to tariffs. U.S. complaints regarding China's economic model remain unaddressed, casting a shadow over the 90-day tariff relief that had previously triggered a global stock market rally.

Meanwhile, the U.S. administration continues tariff negotiations with other nations, including the EU and Japan. A recent U.S. trade court ruling against Trump's tariffs was swiftly reinstated by a federal appeals court pending further review. Bessent plans further meetings to continue the dialogue with international trading partners.

(With inputs from agencies.)