Back to the negotiating table, Bessent says China trade meetings stable, tariff regime discussed

U.S. Treasury Secretary Scott Bessent described trade meetings with China as very good on Monday, characterizing the relationship as stable.

Bessent told CNBC that discussions covered a new tariff regime during the China trade meetings. He added that the U.S. does not want to decouple from China but is pursuing strategic change.

Regarding a potential meeting between President Trump and Chinese President Xi, Bessent said it remains to be seen if the visit will take place as scheduled. He stated that any delay would not be because of the Strait of Hormuz situation.

The Treasury Secretary explained that any rescheduling would be due to logistics. He clarified that if the meeting is rescheduled, it would be because of Trump’s decision to stay in the U.S. amid the Iran war.

Bessent emphasized that markets should not assume any rescheduling is because of conflict between the U.S. and China.