The United States believe they have the basis of a commercial agreement with China, but “it is not 100%completed,” said the United States Treasury Scott Beesent on Thursday.
US negotiators “discussed” for two days of commercial negotiations with the Chinese in Stockholm this week, said Bessent in an interview with the CNBC.
“I think we are able to reach an agreement,” said Bessent.
China is facing the period of August 12 to reach a lasting tariff agreement with the government of President Donald Trump, after Beijing and Washington have reached preliminary agreements in May and June to end the rates and a block of rare earth minerals.
Bessent said that he and the American commercial representative Jamieson Greer will talk to Trump on Thursday 12 August.
“There are still some technical details to be solved between us from the Chinese side. I am confident that this will be done, but it is not 100%completed,” he said.
Many countries are trying to close the agreements before August 1, when Trump promised that the highest rates will come into force.
Information on India, Beesent said he did not know what will happen in commercial negotiations, citing discussions from India with Russia. “They were not a good global actor.”
When asked if it would be possible to do something before the deadline, Bessent said: “I don’t know what will happen. It will depend on India. India soon came to the table. They are doing things slowly. So I think the president and the entire business team were frustrated with them”.
Source: Terra
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