Tensions and Hope: U.S. and China Trade Talks

U.S. Treasury Secretary Scott Bessent criticized China's minister for joking about U.S. tariffs but expressed optimism for a significant trade deal with China. Bessent emphasized that successful negotiations would need direct involvement from both U.S. President Trump and Chinese President Xi Jinping, requiring a novel approach to trade.

U.S. Treasury Secretary Scott Bessent rebuked China's commerce minister for dismissively referring to President Donald Trump's tariffs as a 'joke,' yet remains hopeful of striking a substantial trade deal with Beijing.

In an interview with Bloomberg Television in Argentina, Bessent noted that any productive U.S.-China negotiations would need to involve both President Trump and Chinese President Xi Jinping directly.

Bessent underscored the seriousness of the situation, stating, 'These are not a joke. I mean these are big numbers,' and reiterated that no one desires to maintain the current tariff situation, underscoring the need for a serious and novel negotiation strategy.

(With inputs from agencies.)