U.S. Treasury official Scott Bessent said several large trade deals are nearing completion and that a potential call between President Donald Trump and Chinese President Xi Jinping may be needed to resolve complex issues in ongoing talks.
He says China talks are slightly stalled but expects more discussions in the next few weeks.
In an interview with Fox News on Thursday, Bessent said the U.S. is seeing “substantial” tariff income and insisted that trade partners are engaging “in good faith.” He added there’s been “no change in their attitudes in the past 48 hours.”
"The president has the right to set the trade agenda for the U.S.," Bessent said, reaffirming the administration’s position as the White House continues to defend Trump’s tariff actions, even after a court ruling temporarily blocked them.
Bessent noted that China’s involvement remains critical: “The talks are complex enough that both leaders will need to weigh in. I’m confident the Chinese will step in,” he said. He also suggested that a call between Trump and Xi may happen at some point, as diplomatic momentum builds.
He further projected that the U.S. federal deficit will be smaller this year compared to last, citing increased tariff revenue. Bessent added that rising productivity could help fuel further economic growth, saying, “A productivity increase could add a point to GDP in the next 12 or 24 months.”
On digital assets, Bessent revealed that the Treasury Department has permanently incorporated several members of the DOGE team, originally associated with Elon Musk. “Musk did some important work, but DOGE will not end with Elon,” he said, without elaborating on future plans.
The remarks come amid heightened attention to U.S.-China relations, digital finance policy, and speculation around upcoming announcements from the Trump administration on trade, tech, and economic strategy.
The Centers for Disease Control and Prevention (CDC) confirmed Friday that COVID-19 vaccines are still recommended for healthy children aged 6 months and older—if their doctors agree.
A 61-year-old man in Alaska rescued after being trapped facedown under a massive 700-pound boulder in a freezing glacier-fed creek for three hours.
Two foreign nationals were indicted Friday in California and Wisconsin for allegedly trying to smuggle sensitive U.S. military technology to China and target an American dissident critical of Beijing.
The Federal Aviation Administration has ordered an accident investigation into SpaceX’s latest Starship test flight, which ended with the spacecraft spinning out of control and breaking apart over the Indian Ocean.
Czech Justice Minister Pavel Blažek resigned Friday after opposition parties called for his removal over a controversy involving bitcoins donated to the Ministry of Justice.
The Centers for Disease Control and Prevention (CDC) confirmed Friday that COVID-19 vaccines are still recommended for healthy children aged 6 months and older—if their doctors agree.
A 61-year-old man in Alaska rescued after being trapped facedown under a massive 700-pound boulder in a freezing glacier-fed creek for three hours.
Two foreign nationals were indicted Friday in California and Wisconsin for allegedly trying to smuggle sensitive U.S. military technology to China and target an American dissident critical of Beijing.
The Federal Aviation Administration has ordered an accident investigation into SpaceX’s latest Starship test flight, which ended with the spacecraft spinning out of control and breaking apart over the Indian Ocean.
Czech Justice Minister Pavel Blažek resigned Friday after opposition parties called for his removal over a controversy involving bitcoins donated to the Ministry of Justice.
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A 61-year-old man in Alaska rescued after being trapped facedown under a massive 700-pound boulder in a freezing glacier-fed creek for three hours.
Two foreign nationals were indicted Friday in California and Wisconsin for allegedly trying to smuggle sensitive U.S. military technology to China and target an American dissident critical of Beijing.
The Federal Aviation Administration has ordered an accident investigation into SpaceX’s latest Starship test flight, which ended with the spacecraft spinning out of control and breaking apart over the Indian Ocean.
Czech Justice Minister Pavel Blažek resigned Friday after opposition parties called for his removal over a controversy involving bitcoins donated to the Ministry of Justice.
The Centers for Disease Control and Prevention (CDC) confirmed Friday that COVID-19 vaccines are still recommended for healthy children aged 6 months and older—if their doctors agree.
A 61-year-old man in Alaska rescued after being trapped facedown under a massive 700-pound boulder in a freezing glacier-fed creek for three hours.
Two foreign nationals were indicted Friday in California and Wisconsin for allegedly trying to smuggle sensitive U.S. military technology to China and target an American dissident critical of Beijing.
The Federal Aviation Administration has ordered an accident investigation into SpaceX’s latest Starship test flight, which ended with the spacecraft spinning out of control and breaking apart over the Indian Ocean.
Czech Justice Minister Pavel Blažek resigned Friday after opposition parties called for his removal over a controversy involving bitcoins donated to the Ministry of Justice.
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