Catenaa, Monday, July 07, 2025- US Treasury Secretary Scott Bessent said that he expected to meet with his Chinese counterpart in the coming weeks to advance discussions on trade between the two nations.
“I’m going to be meeting with my Chinese counterpart at some time in the next couple of weeks,” Bessent said in an interview Monday on CNBC. “We had good meetings in Geneva, in London. We both approached it with great respect”
“I think there are things for us to do together if the Chinese want to do it,” he added. “So we will discuss whether we are able to move beyond trade into other areas.”
The Treasury secretary has engaged in the past with Chinese Vice Premier He Lifeng. Lifeng led his country’s delegation for talks in London last month with the US on trade. The US and China exchanged crippling tit-for-tat tariffs earlier this year that threatened to choke off trade, unnerving financial markets fearing the clash would spark a global downturn.
Negotiations in Geneva and later in London saw the two nations agree to a truce under which Beijing agreed to ease the export of rare earth minerals critical to a slew of US industries ranging from chips, clean energy and transportation, in exchange for the US lifting some of its restrictions.
Bessent last week cautioned that flows of those critical materials still had not returned to levels seen in April.
That deal requires Beijing’s sign-off, giving the country a source of leverage to potentially extract concessions from the US on trade and other issues.
Trump has said he has a prospective buyer for TikTok, an investor consortium that includes Oracle Corp., Blackstone and the venture capital firm Andreessen Horowitz.
