Scott Bessent's apprehensive interview about U.S.-China trade negotiations highlighted a notable shift in the discourse, marked by stuttering and uncertainty. While he indicated future talks, concerns surfaced regarding stalled negotiations, especially amidst President Trump's misleading claims about China's compliance with trade agreements. Additional context from WSJ articles elaborated on China's controlled issuance of rare earth metal export licenses as a form of retaliation. This strained relationship hints at a fragile trade truce that could devolve if tensions escalate further between the two nations.
Bessent: I, I, I would say that they are ... uh, a bit stalled. I believe that we will be having more talks with them. Uh, in the next few weeks.
Baier: So stalled. There was a time when the President thought that that was moving forward pretty significantly.
Bessent: I, uh, again I, I think that given, given the magnitude of the talks, given the complexity, that it, this is going to require both. leaders. to. weigh. in.
A trade truce between the U.S. and China is at risk of falling apart, as China's slow-walking of export licenses for rare earth metals comes into play.
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