U.S. Treasury Secretary Scott Bessent said on Friday that he believed that Washington has the makings of a deal with China and that he was "optimistic" about the path forward. "This week's negotiations in Stockholm have advanced our talks with China,

Treasury Secretary Scott Bessent conveyed confidence that the U.S. and China would soon reach a deal on tariffs. “I believe that we have the makings of a deal,” Bessent told CNBC early Thursday. “There’s still a few technical details to be worked out on the Chinese side between us.

The Trump administration’s trade deal with China that sharply lowered the tariff rate on Chinese imports is expected to be extended past its Aug. 12 deadline, Treasury Secretary Scott Bessent predicted Tuesday, though he maintained higher tariff rates on other countries’ imports are still slated to take effect Aug. 1 as scheduled.