FX.co ★ U.S., China Prepare for New Trade Dialogue

U.S. Treasury Secretary Scott Bessent announced on Tuesday that American trade representatives plan to meet again with their Chinese counterparts in the next two to three months to deliberate on the future of bilateral economic relations. This statement came after extending a 90-day tariff truce between the two countries, which temporarily prevented the imposition of triple-digit duties on each other's products. Bessent emphasized that the U.S. needs to witness “months, if not quarters, if not a year” of consistent progress in reducing fentanyl shipments from China before entertaining any thoughts of lowering tariffs.