Bessent says US is open to a larger China trade deal after meeting He Lifeng
The temporary US-China trade truce expires Nov. 10, with the topic expected to come up when President Trump hosts President Xi Jinping in Washington.
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Treasury Secretary Scott Bessent said the United States is open to negotiating a larger trade deal with China, after meeting Chinese Vice Premier He Lifeng. He said the two sides discussed an expanded agreement that China has proposed, and that Washington could also simply maintain the current arrangement.
The meeting came a day before Trump is due to host Xi in Washington. That visit is expected to cover trade, rare earths and artificial intelligence.
The temporary trade truce between the two countries is set to expire on Nov. 10. Any larger deal is expected to be a central talking point between Trump and Xi during the state visit.
An opening toward a bigger deal eases near-term trade risk, but the Nov. 10 deadline and a backdrop of rising Treasury yields and global debt mean any agreement still depends on what Trump and Xi agree in their talks. Investors are likely to stay neutral on trade-exposed positions until firmer terms appear.