White House confirms 34‑nation trade talks, China deal elusive
The United States has received 18 written proposals for trade agreements and is currently in negotiations with 34 countries, White House spokeswoman Karoline Leavitt announced on Tuesday. She noted that a deal with China is also in progress.
What do you need to know?
- The United States has received 18 written proposals for trade agreements and is in negotiations with 34 countries.
- A trade agreement with China is being planned, although Finance Minister Scott Bessent reportedly described these discussions as a nightmare.
- He emphasised that the current level of tariffs is unsustainable, and the United States is not aiming to sever economic ties with China.
During Tuesday's press briefing, Leavitt stated that the number of offers received is a testament to the effectiveness of President Trump's approach to tariffs and that things are moving in the right direction.
She suggested that, despite the scepticism of experts, the administration will manage to conclude trade agreements before the suspension of some tariffs ex
The spokeswoman also conveyed a message from President Trump that he is "laying the groundwork" for a deal with China, expressing hope that both powers will soon reach an agreement to reduce the tariffs, which are currently 145% and 125%.
"We feel everyone involved wants to see a trade deal happen and the ball is moving in the right direction," she said.
According to information provided by Bloomberg, Finance Minister Scott Bessent mentioned at a private conference organised by JP Morgan Bank that he expects negotiations with China to "de-escalate." He also assessed that no one believes the current situation with such high tariffs can be maintained for an extended period.
He stressed that the intention of the United States is not to decouple or sever economic ties with China, even though the current level of tariffs essentially constitutes an embargo on products from that country.
