US signals flexibility on China tariff truce deadline

US Treasury Secretary Scott Bessent indicated that the Aug. 12 deadline for the current tariff truce with China is not set in stone, describing ongoing talks between the two economic powers as being in “a very good place.” 

Speaking on a Bloomberg program on Tuesday, Bessent urged market participants not to be overly concerned about the expiration date of the 90-day reprieve that began on May 12.

Bessent, who is leading Washington’s negotiations with Beijing, said he hopes to meet with Chinese Vice Premier He Lifeng soon, possibly in a third country, either before or after China’s leadership convenes early next month.

STAFF REPORTER