Bessent Says China Tariff Status Quo ‘Working Pretty Well’

Treasury Secretary Scott Bessent indicated the US is satisfied with the current tariff set up with China, a signal the Trump administration is looking to maintain calm with its economic rival before a trade truce expires in November.

When asked in a Fox News interview when progress in negotiations would be seen and if the US needed a trade agreement because of how tariffs were going, Bessent said that “we’re very happy” with the situation with China. “I think right now the status quo is working pretty well,” he said.