Bessent: We’ve Had No Trade Negotiations With China (Contrary To What Dear Leader Has Said Many Times)

“As I said before, there are 18 very important trading relationships. We are currently negotiating with 17 of those trading partners. China, we have not engaged in negotiations with as of yet. So I expect that we can see a substantial reduction in the tariffs that we are being charged, as well as non-tariff barriers, currency manipulation, and the subsidies of both labor and capital investment.” – Treasury Sec. Scott Bessent, torpedoing Trump’s many claims that he’s close to a trade deal.

In this morning’s hearings, Scott Bessent directly contradicts Trump and the White House concerning negotiations with China saying: “On China, we have not engaged in negotiations with as of yet.”

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— Scott Horton (@robertscotthorton.bsky.social) May 6, 2025 at 11:49 AM

Treasury Secretary Scott Bessent says the US is negotiating with 17 of the nations’ “very important” trading partners, but has not yet engaged in negotiations with China https://t.co/TynZQ37x0G pic.twitter.com/GpRlmzy5R1

— Bloomberg TV (@BloombergTV) May 6, 2025