Trump Considering Possible Extension of Pause on China Tariffs
Treasury Secretary Bessent says talks that ended Tuesday were positive.

President Trump is being asked to grant another 90-day delay on imposing crushing tariffs on China as trade negotiators work to come up with the outline of a trade agreement between the worldâs two largest economies.
The two days of talks in Stockholm ended Tuesday without an agreement but instead merely an agreement to resume talks in the coming weeks.
At a news conference after the meeting ended, Treasury Secretary Bessent called the meeting âwholesomeâ and positive. âThe overall tone of the meeting was very constructive,â Mr. Bessent said.
Mr. Bessent said he and United States Trade Representative Jamieson Greer will meet with Mr. Trump at the White House on Wednesday to discuss the trade talks and the possible pause in the import taxes on Chinese goods.
âWeâll either approve it or not,â Mr. Trump told reporters aboard Air Force One on his way back to Washington from Scotland.
Chinese trade negotiator Li Chenggang told reporters through a translator that the talks were âin-depth, candid and constructiveâ as the two sides work to avoid an all-out trade war.
âBoth sides are fully aware of the importance of safeguarding a stable and sound China and U.S. trade and economic relationship,â Mr. Li continued.
Previously meetings in Geneva led to a 90-day pause on the 145 percent tariffs on China that Mr. Trump announced in April. Those import taxes were due to go into effect on August 12.
âHere you have the worldâs two largest economies in negotiation,â Mr. Bessent said. âWe donât want to de-couple. We just need to de-risk in strategic industries, whether itâs rare earths, semi-conductors, medicines, and we talked about what we could do together to get in balance within the relationship.â
The talks with China come after President Trump came to an agreement on the framework for a trade deal with the European Union over the weekend.
Mr. Bessent claimed the Chinese were surprised by the magnitude of the Japan and European Union deals, the details of which are both still somewhat murky.
âThey were in more of a mood for a wide-ranging discussion,â Mr. Bessent said.
Most countries face a Friday deadline to come up with a trade agreement with the United States to avoid reciprocal tariffs. Commerce Secretary Howard Lutnick reiterated in a Tuesday interview that that deadline would not move.
âAugust 1 is the date that weâre setting all these rates, and they are off to the races after that,â Mr. Lutnick told CNBC.
