US Treasury secretary Bessent: China are tough negotiators
- We pushed back on them quite a bit
- We have the makings of a deal
- Will speak to Trump later today about 12 August deadline with China
- Confident that it will be done
- I don't know what's going to happen on India
- It will be up to them (India), our trade team is frustrated
- We pulled down a lot of the non-tariff trade barriers for South Korea deal
These are mostly token remarks in summarising how things have played out so far this week. With regards to an extension of the trade truce with China, do be wary that we could be seeing a potential set up for a Trump-Xi meeting for late October as well.