WASHINGTON - Treasury Secretary Scott Bessent confirmed that the Trump administration has not yet engaged in trade negotiations with China, contradicting President Donald Trump's previous claims about talks with Beijing regarding tariffs.
"China we have not engaged in negotiations with as of yet," Bessent stated during a hearing with the House Appropriations Committee on May 6.
Despite the imposition of tariffs by the Trump administration on imports from China, leaders from both economies have not shown any signs of backing down. Bessent emphasized that the onus is on China to de-escalate the trade tensions, given their trade surplus with the US.
Contrary to Trump's statements indicating active trade talks, Bessent clarified that negotiations with China have not commenced. Trump's recent remarks about ongoing discussions with Chinese leaders have not been corroborated.
China's response to the US signals a reluctance to negotiate until the reciprocal tariffs are lifted. Trump, however, has shown no inclination to lower tariffs as a means of initiating talks, citing the need for leverage in negotiations.
The Trump administration's focus remains on securing trade deals with numerous nations, with negotiations ongoing with most major trading partners except China. Bessent expressed optimism about wrapping up deals with multiple countries by the end of the year.
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