US Treasury Secretary Bessent: Talks with China are progressing

(Patria) - US Treasury Secretary Scott Bessent stated that he believes Washington has the prerequisites for an agreement with China and that he is "optimistic" about the way forward, Reuters reported.

"The talks in Stockholm this week have advanced our discussions with China and I believe we have the prerequisites for an agreement that will benefit both of our great nations," Bessent said in a post on social network X that was later deleted.

"I am optimistic about the way forward," he added.

A Treasury Department spokesperson said the post was being re-published because images attached to it did not load correctly. The spokesperson also noted that the language in the post is consistent with what Bessent has said in various media interviews this week.

In an interview with CNBC on Thursday, Bessent said the United States believes it has the prerequisites for a trade agreement with China, but that it is "not 100% done".

US negotiators have "given up quite a bit" during two days of trade talks with the Chinese in Stockholm this week, Bessent told CNBC.

China has been given a deadline of August 12 to reach a permanent tariff agreement with the Donald Trump administration, after Beijing and Washington reached preliminary agreements in May and June to end tit-for-tat escalating tariffs and halt imports of rare earth minerals.