Bessent Predicts Likely U.S.-China Trade Deal on Reciprocal Tariffs Before November Deadline

Treasury Secretary Scott Bessent expressed confidence that a U.S.-China trade deal is likely before reciprocal tariffs take effect in November. In a CNBC interview, he said upcoming talks are expected to be productive, with China recognizing the possibility of an agreement. Initial tariffs announced by Trump in April 2025, which could have reached 145%, were paused and later extended to Nov. 10. Bessent highlighted concerns from U.S. trading partners over Chinese goods flooding their markets. The U.S. trade deficit with China, nearly $300 billion in 2024, is projected to shrink by at least 30% this year, aiming for fairer trade.