financetom
Business
financetom
/
Business
/
Bessent says US has 'makings of a deal' with China
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Bessent says US has 'makings of a deal' with China
Aug 3, 2025 6:58 PM

WASHINGTON (Reuters) -U.S. Treasury Secretary Scott Bessent said on Friday that he believed that Washington has the makings of a deal with China and that he was "optimistic" about the path forward.

"This week's negotiations in Stockholm have advanced our talks with China, and I believe that we have the makings of a deal that will benefit both of our great nations," Bessent said in a post on X that was subsequently deleted.

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

A Treasury Department spokesperson said the post was being reposted because the images attached to it had not uploaded correctly. The spokesperson also noted that the language in the post was in line with what Bessent had said in various media interviews this week.

In an interview with CNBC on Thursday, Bessent said the United States believes it has the makings of a trade deal with China, but it is "not 100% done."

U.S. negotiators "pushed back quite a bit" over two days of trade talks with the Chinese in Stockholm this week, Bessent told CNBC.

China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached preliminary deals in May and June to end escalating tit-for-tat tariffs and a cut-off of rare earth minerals.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Crinetics Pharmaceuticals Gets FDA Orphan Drug Designation for Atumelnant
Crinetics Pharmaceuticals Gets FDA Orphan Drug Designation for Atumelnant
Aug 21, 2025
09:25 AM EDT, 08/21/2025 (MT Newswires) -- Crinetics Pharmaceuticals ( CRNX ) said Thursday the US Food and Drug Administration has granted orphan drug designation to atumelnant, its oral drug candidate for classic congenital adrenal hyperplasia. The company said the designation follows phase 2 trial results that indicated reductions in key biomarkers and clinical symptoms in adults with the condition....
ADB to provide $410 million package for Barrick-run Pakistan mine, sources say
ADB to provide $410 million package for Barrick-run Pakistan mine, sources say
Aug 21, 2025
* ADB to provide $410 million package for copper-gold mine * Package includes a $300 million in loans to Barrick Gold ( B ) (Updates throughout) By Saeed Shah and Ariba Shahid ISLAMABAD, Aug 21 (Reuters) - The Asian Development Bank will provide a $410 million financing package to help develop Pakistan's Reko Diq copper mine, one of the world's...
Caterpillar, Hunt Energy Collaborate to Provide Power Services for Data Centers
Caterpillar, Hunt Energy Collaborate to Provide Power Services for Data Centers
Aug 21, 2025
09:27 AM EDT, 08/21/2025 (MT Newswires) -- Caterpillar ( CAT ) and Hunt Energy said Thursday that they have formed a collaboration to provide power services for data centers. Financial details of the collaboration were not disclosed. Caterpillar ( CAT ) will use its portfolio of power services and will provide monitoring and servicing products, the companies said. Hunt will...
AbbVie Says 2nd Phase 3 Trial Evaluating Upadacitinib for Alopecia Areata Met Primary Endpoint
AbbVie Says 2nd Phase 3 Trial Evaluating Upadacitinib for Alopecia Areata Met Primary Endpoint
Aug 21, 2025
09:29 AM EDT, 08/21/2025 (MT Newswires) -- AbbVie ( ABBV ) said Thursday that topline results from the second of two pivotal studies of a phase 3 trial showed that upadacitinib improved scalp and non-scalp hair regrowth in adult and adolescent patients with severe alopecia areata. The study achieved the primary endpoint with 45.2% and 55% of patients treated with...
Copyright 2023-2026 - www.financetom.com All Rights Reserved