U.S. Treasury Secretary Hints at Imminent China Trade Deal

The U.S. is close to finalizing a trade agreement with China, but it's not complete yet, according to Treasury Secretary Scott Bessent. Talks in Stockholm showed progress, aiming to meet an August 12 deadline. There remains uncertainty with India due to its ties with Russia.

The United States is on the brink of a trade agreement with China, according to Treasury Secretary Scott Bessent. While discussions have been positive, the deal remains unfinished. Following talks in Stockholm, negotiators believe they're close to an accord.

China is pressured to finalize the deal by August 12 to avoid increased tensions and tariffs. Initial agreements were set in May and June, but details remain to be resolved, particularly regarding technicalities on the Chinese side.

Bessent also commented on India's trade relations, highlighting their complex ties with Russia. While India engaged early in negotiations, their progress has been sluggish, causing frustration among U.S. trade representatives.

(With inputs from agencies.)