Treasury Secretary Scott Bessent Says He Will Meet His Chinese Counterpart In The Next Two Weeks: ‘There Are Things For Us To Do Together’

U.S. Treasury Secretary Scott Bessent on Monday revealed that he would be meeting his Chinese counterpart sometime over the next two weeks.

In an interview with CNBC, Bessent emphasized that the U.S. and China could expand their cooperation into areas beyond trade. “We had good meetings in Geneva, in London. We both approached it with great respect,” he said.

“I think there are things for us to do together if the Chinese want to do it,” he added. “So we will discuss whether we are able to move beyond trade into other areas.”

Despite the optimism from Bessent, U.S. equity markets edged lower in Monday morning trade after a likely delay in the enforcement of President Donald Trump’s July 9 tariff deadline.

The SPDR S&P 500 ETF Trust (SPY), which mirrors the S&P 500 index, fell 0.52%, while Invesco QQQ Trust (QQQ) was down 0.64% at the time of writing. Retail sentiment around the S&P 500 ETF on Stocktwits has been in the ‘bullish’ territory over the past week.

China’s talks with the U.S. were led by the country’s Vice Premier, He Lifeng. At the time, Lifeng called on both countries to abide by the agreement struck in London, following a series of tit-for-tat moves made by the U.S. and China since President Trump’s inauguration earlier this year.

Before the London framework was agreed upon, President Trump had a call with his Chinese counterpart, President Xi Jinping. “There should no longer be any questions respecting the complexity of Rare Earth products,” President Trump had said after the call.

However, since then, trade tensions between the U.S. and China have cooled down considerably. While China has begun approving some rare earth applications from U.S. companies, the U.S. has eased restrictions on the export of chip design software to China.

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