U.S. Treasury Secretary Scott Bessent cast doubt on President Donald Trump’s claims that tariff discussions with China are ongoing, stating he was unsure whether Trump had spoken to Chinese President Xi Jinping.
While Trump has expressed a willingness to reduce tensions in the ongoing trade war between the U.S. and China, which has raised concerns of a potential recession, Bessent did not confirm any talks. Trump had previously stated that discussions with China were taking place and that he and Xi were in communication, but China has denied any such conversations.
Bessent, who plays a significant role in U.S. trade negotiations, revealed that he had met with Chinese officials last week during International Monetary Fund meetings in Washington. However, the discussions did not focus on tariffs. “I had interaction with my Chinese counterpart, but it was more on financial stability and global economic early warnings,” Bessent said in an interview on ABC’s This Week.
When asked about Trump’s reported conversation with Xi, Bessent remarked, “I don’t know if President Trump has spoken with President Xi, but I know they have a very good relationship and mutual respect.”
Regarding China’s denial of trade talks, Bessent suggested, “I think they’re playing to a different audience.”
While Bessent previously described tariff negotiations with China as a “slog,” he did not provide a timeline for a potential agreement. He noted that although a formal trade deal may take months, a de-escalation and an agreement in principle could come sooner, which would prevent tariffs from escalating to their highest levels.
The Trump administration’s fluctuating tariff strategy has disrupted trade relations with key partners, including China, Canada, and Mexico, causing significant market instability and undermining investor confidence in U.S. assets.
In a separate interview, Agriculture Secretary Brooke Rollins confirmed that the U.S. was holding daily discussions with China about tariffs, though she did not provide further details. “Every day we are in conversation with China, along with those other 99, 100 countries that have come to the table,” Rollins said during an appearance on CNN’s State of the Union.
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