US Treasury Secretary: "Tariff negotiations with China scheduled…Global talks also on track"

Tariff negotiations between the United States and China are expected to resume.

On the 22nd (local time), according to Walter Bloomberg, Scott Besant, the US Treasury Secretary, stated, "We plan to hold tariff negotiations with China in Stockholm next week," adding, "There is a possibility that tariff suspension measures may be extended." Currently, the US-China tariff truce is set to expire on August 12.

Secretary Besant also mentioned the status of negotiations with other countries. He said, "We plan to announce multiple trade agreements within the next few days," and emphasized, "Although August 1—the deadline for activating tariff negotiations—is a firm date, there is still room for negotiation." Particularly regarding negotiations with Japan, he assessed, "The negotiations are progressing well."

Besant presented a positive outlook regarding the effectiveness of tariff policy. He explained, "Over the next 10 years, tariff revenues could amount to $2.8 trillion," stating, "On an annual basis, it would reach about $300 billion." Additionally, he projected, "The GDP growth rate in the US will exceed 3% by the first quarter of 2026."

Meanwhile, Secretary Besant also shared his views on Fed Chair Jerome Powell. He commented, "There is no reason for Powell to resign immediately," and added, "His term lasts until May next year, and he can fulfill it." However, he did add, "If he wishes to resign early, that's also fine."