Washington-Beijing Trade Talks Hit Roadblock
(MENAFN) A news outlet, speaking with U.S. Treasury Secretary Scott Bessent on Thursday, revealed that negotiations between Washington and Beijing over trade issues have stalled and may now require direct involvement from both nations' top leaders.
Back in April, President Donald Trump significantly increased tariffs on Chinese imports, with rates climbing as high as 145%, citing concerns over what he labeled a “unfair trade imbalance.” In response, the Chinese government retaliated by raising its own import taxes to 125%. Earlier this month, both sides agreed to temporarily ease or freeze most of these newly imposed tariffs for a 90-day period while they attempt to make further progress through ongoing dialogue.
When the news outlet anchor asked Bessent to assess the state of the negotiations, the treasury chief responded, “I would say that they are a bit stalled.”
Bessent went on to say that additional discussions were slated to take place in the coming weeks and indicated that a phone conversation between President Trump and Chinese President Xi Jinping could happen soon.
“Given the magnitude and complexity of the talks, this is going to require both leaders to weigh in with each other. They have a very good relationship. I am confident that the Chinese will come to the table,” Bessent stated.
Meanwhile, on the legal front, the US Court of Appeals for the Federal Circuit overturned a prior ruling from the Court of International Trade that had temporarily blocked the tariffs. As a result, the elevated duties will stay in effect at least until June 9.
Bessent criticized the judiciary’s involvement, claiming it undermines executive authority. “The president absolutely has the right to set the trade agenda for the US,” he said, adding, “Anything that the courts do to get in the way harms the American people – both in terms of trade and lost tariff revenue.” He called the judicial action “highly inappropriate,” especially since the Senate had not moved to reject Trump’s trade decisions.
Beijing has strongly opposed the tariff increases, framing them as part of a broader American strategy to assert dominance.
“Tariff wars and trade wars have no winners. Protectionism harms the interests of all parties and is ultimately unpopular,” said Chinese Foreign Ministry spokeswoman Mao Ning. She also accused Washington of using trade policy as a means to “advance US hegemonic ambitions at the cost of the legitimate interests of all countries.”
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