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Treasury Secretary Bessent says he’s likely to meet with China again in ‘next few weeks’ to work on bigger agreement

  • Treasury Secretary Scott Bessent announced a 90-day pause on U.S.-China tariffs following recent talks in Geneva.
  • The pause resulted from negotiations aiming to ease trade tensions and follows previous tariff escalations under President Trump.
  • The agreement lowers tariffs on Chinese products from 34% down to 10%, keeps a 20% tariff on fentanyl precursors intact, and introduces a framework for ongoing negotiations.
  • Bessent told CNBC that he expects another meeting within the coming weeks to advance toward a more comprehensive agreement.
  • The tariff pause has prompted market gains and sets the stage for continued negotiations to address strategic issues and trade barriers.
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  • 40% of the sources lean Left, 40% of the sources are Center
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CNBC broke the news in United States on Monday, May 12, 2025.
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