Pesint says the Chinese Irrigation situation “works well”

When asked in an interview with Fox News when progress is seen in negotiations, and if the United States needs a trade agreement because of how the definitions have passed, Bessent said, “We are very happy” with the situation with China. “I now think that the current situation is working well,” he said.

“China is the largest revenue line of customs tariff income – so if it is not broken, it is not suitable,” he said in the interview on Tuesday. “We have had good conversations with China. I imagine that we will see them again before November.”

Bessent’s comments indicate that reducing tensions between the two sides is still in place, which may create an opening for President Donald Trump to meet Chinese leader Xi Jinping.

Trump administration in general The bottom of its tone was contacted With Beijing recently to get top with XI and a commercial deal. Foreign Minister Marco Rubio said it is possible that there will be a meeting between the two leaders, although no date has been set.

Last week, Trump temporarily stopped the customs tariff for Chinese goods for another 90 days until early November, a step that settled on trade relations between the two largest economies in the world.

This was possible because the United States and China agreed to reduce the high customs tariffs and reduce export restrictions on rare land magnets and some technologies. S&P Global Ratses said that the revenue from Trump’s tariff will help Maintain the current credit degree.

However, the trade conflict with China causes some pain of the American Rajland Kalib, the president of the American Soy Soy Society, in A message to Trump On Tuesday, US soy farmers are near “trade and finance” and cannot survive in a long conflict.

Trump said last week he hoped in China Escalation Its purchases of American soybeans. China did not buy one shipment of soybeans from the next harvest, which begins in September.

In a move that is likely to bother Beijing, the Trump administration has been appointed Scrutiny One of the imports of steel, copper, lithium and other materials of economics No. 2 in the world to impose an American ban on the goods that are allegedly with forced workers in the country’s Xinjiang region.

The plan is compatible with Trump’s broader goals, given that he wants to reduce the American trade deficit with China and press Beijing to reduce shipments Chemical materials fentanel and sects.

Earlier this month, Trump doubled Definitions on Indian goods to 50 %Saying that the rise was a punishment for India’s purchases of reduced oil from Russia, which he says helps in financing the war of President Vladimir Putin against Ukraine.

There was concern that the United States might also target other countries – Qina is the largest total buyer of Moscow crude – but so far India has been the only main economy that it is exposed to like “”Secondary definitions”

Bessent defended the administration’s lack of secondary tariff in China in an interview with CNBC, saying that India increased its purchases only after Carmel’s full invasion of Ukraine in 2022.