WASHINGTON, July 31 (Reuters) - The United States
believes it has the makings of a trade deal with China, but it
is "not 100% done," U.S. Treasury Secretary Scott Bessent said
on Thursday.
U.S. negotiators "pushed back quite a bit" over two days of
trade talks with the Chinese in Stockholm this week, Bessent
said in an interview with CNBC.
"I believe that we have the makings of a deal," Bessent
said.
China is facing an August 12 deadline to reach a durable
tariff agreement with 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.
Bessent said he and U.S. Trade Representative Jamieson
Greer will speak to President Donald Trump later on Thursday
about the August 12 deadline.
"There's still a few technical details to be worked out
on the Chinese side between us. I'm confident that it will be
done, but it's not 100% done, he said.
Many countries are rushing to cut deals ahead of August
1, when Trump has promised higher tariffs will kick in.
On India, Bessent said he did not know what would happen
in trade talks, citing India's dealings with Russia. "They have
not been a great global actor."
Asked if movement was possible before the Friday
deadline, Bessent said: "I don't know what's going to happen. It
will be up to India. India came to the table early. They've been
slow rolling things. So I think that the president, the whole
trade team, has been frustrated with them."