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Tariff Status Quo With China 'Working Pretty Well', Says US Treasury Chief
The Straits Times
|August 21, 2025
Remark a signal that US is looking to keep ties calm before trade truce expires in Nov
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WASHINGTON - Treasury Secretary Scott Bessent indicated that the US is satisfied with the current tariff arrangement with China, a signal the Trump administration is looking to keep ties calm 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, Mr. Bessent said that "we're very happy" with the tariff situation with China. "I think right now the status quo is working pretty well," he said.
"China is the biggest revenue line in the tariff income - so if it's not broken, don't fix it," he said in the interview on Aug 19. "We have had very good talks with China. I imagine we'll be seeing them again before November."
Mr. Bessent's remarks indicate that an easing of tensions between the two sides remains in place, potentially creating an opening for US President Donald Trump to meet Chinese President Xi Jinping.
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