U.S.-China Trade Talks: A Promising Dialogue in Stockholm

U.S. Treasury Secretary Scott Bessent praised recent U.S.-China trade discussions in Stockholm as 'far reaching.' Key topics like TikTok and Taiwan were not addressed. The U.S. urged China to move towards a consumer-based economy from a manufacturing-centric approach.

U.S. Treasury Secretary Scott Bessent described the latest U.S.-China trade discussions as 'far reaching, robust and highly satisfactory.' Conducted over two days in Stockholm, these talks are a crucial engagement between the world's largest economies.

Bessent remarked in a CNBC interview after the discussions that certain critical issues, such as the future of the TikTok app and the movement of Taiwanese officials, were not addressed during the talks.

The focus was primarily on economic strategies, with the U.S. urging China to transition its economy toward a consumer-based framework rather than relying predominantly on manufacturing.

(With inputs from agencies.)