Stalled US-China trade talks may require intervention by top leaders, says treasury secretary
WASHINGTON, May 30 — US Treasury Secretary Scott Bessent said yesterday trade negotiations with China were 'a bit stalled' and suggested President Donald Trump and his Chinese counterpart Xi Jinping could get involved.
'I would say that they are a bit stalled,' Bessent told broadcaster Fox News when asked about trade talks with Beijing.
'I believe that we will be having more talks with them in the next few weeks, and I believe we may, at some point, have a call between the President and Party Chair Xi,' he added.
The world's two biggest economies agreed this month to pause reciprocal tariffs for 90 days, a surprise de-escalation in their bitter trade war following talks between top officials in Geneva.
Under the May 12 truce, Washington agreed to temporarily reduce the tariff on Chinese imports to 30 percent from 145 percent, while China said it would lower its import duty on American goods to 10 percent from 125 percent.
'I think that given the magnitude of the talks, given the complexity, that this is going to require both leaders to weigh in with each other,' Bessent said.
'They have a very good relationship, and I am confident that the Chinese will come to the table when President Trump makes his preferences known.' — AFP
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Malay Mail
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Malay Mail
2 hours ago
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In response to these challenges, Malaysia has sought to deepen its economic ties with other partners. Notably, during a state visit by Chinese President Xi Jinping to Kuala Lumpur in April 2025, Malaysia and China signed over 30 bilateral cooperation agreements aimed at enhancing trade and investment relations. These agreements are part of Malaysia's strategy to diversify its trade partnerships and mitigate the impact of US tariffs. At the Asean summit in Kuala Lumpur on 27 May 2025, Southeast Asian leaders reached a consensus that any bilateral trade agreements with the United States regarding tariffs should not negatively impact other member nations. Prime Minister Anwar Ibrahim, serving as ASEAN Chair, emphasized the importance of this unified stance to protect the region's collective economic interests amid global market volatility and the imposition of US-led tariffs that could impose duties ranging from 32 per cent to 49 per cent on six Asean countries. 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