Bessent says US is not in a rush to extend China truce
Treasury Secretary Scott Bessent indicated the U.S. will wait until later this year to negotiate an extension of the tariff and critical minerals trade truce with China. The two nations plan to discuss lowering tariffs on $30 billion of non-strategic goods and establishing new AI safety protocols.
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United States Treasury Secretary Scott Bessent said the administration will not rush to extend a trade truce with China before it expires in November. The deal currently holds extra tariffs on Chinese goods at 10% following a temporary reduction from 20% last year. Investors face renewed trade volatility as the two nations renegotiate terms for $30B in non-strategic goods and critical minerals.
