The United States has confirmed that ongoing trade discussions with China have encountered a stalemate, with hopes now resting on the intervention of President Donald Trump and Chinese leader Xi Jinping to break the deadlock. U.S. Treasury Secretary, Scott Bessent, disclosed this during a live interview on Fox News on Thursday, describing the current state of negotiations as “a bit stalled.”
Speaking on the trajectory of talks aimed at resolving long-standing trade tensions between the world’s two largest economies, Bessent acknowledged the complexity of the issues at hand and noted that high-level diplomatic engagement may soon be necessary.
“I would say that they are a bit stalled,” he said, when asked about the latest developments in the dialogue with Beijing. “However, I believe that more discussions will take place in the coming weeks, and there is the possibility of a direct phone call between President Trump and Party Chairman Xi.”
This statement comes shortly after both nations agreed to a temporary truce on reciprocal tariffs earlier in the month, following intense negotiations in Geneva. The agreement, reached on May 12, saw Washington slash its tariff on Chinese goods from 145 percent to 30 percent for a 90-day period, while Beijing responded by lowering its own import duties on American products from 125 percent to 10 percent.
The temporary easing of trade hostilities was seen as a surprise de-escalation in what has been a protracted economic standoff that has affected global markets and strained bilateral relations. However, progress appears to have stalled again, raising concerns about the durability of the truce.
Bessent emphasized the importance of direct communication between the two heads of state in moving the process forward. “I think that given the magnitude of the talks, and the complexity involved, this is going to require both leaders to weigh in,” he noted. “They have a very good relationship, and I am confident that the Chinese will come to the table once President Trump makes his preferences clear.”
Observers say the impasse could have broader implications for global trade dynamics, especially as both countries weigh domestic economic considerations ahead of further diplomatic engagement. For now, all eyes are on Washington and Beijing, as stakeholders await whether high-level dialogue can restart momentum toward a long-term agreement.
