Summary
The U.S. Treasury Secretary Scott Bessent stated that the current trade arrangements with China are satisfactory to the Trump administration. The ongoing truce, which prevents any new tariffs, is planned to last until November 10. Talks are expected to continue to maintain smooth relations and trade of crucial materials.
Key Facts
- The U.S. is satisfied with the existing trade deal with China.
- Current tariffs between the U.S. and China are in a truce until November 10.
- The trade war involved both countries imposing tariffs on each other, creating uncertainties for businesses.
- China has resumed sending rare earth magnets to the U.S. as agreed.
- The U.S. lowered tariffs on Chinese goods from 145% to 30%.
- Further discussions and meetings are expected before November to keep the trade relationship stable.
- Secretary of State discussed a possible meeting between U.S. President Trump and Chinese leader Xi Jinping, but no date has been set.
