Name: U.S.-China Trade Officials Discuss Tariff Truce Extension
Uploaded: 2025-07-29T18:26:00Z
Duration: 2 min 11 s
Description: U.S. Treasury Secretary Scott Bessent said two-day trade talks with China were very constructive, and that the final decision on the extension lies with President Trump.

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U.S. Treasury Secretary Scott Bessent said two-day trade talks with China were very constructive, and that the final decision on the extension lies with President Trump. Photo: Magnus Lejhall/AFP/Getty Images

https://m.wsj.net/video/20250729/5b1e4645-e67d-4984-bd8e-a5d3037bf089/1/hls/manifest-hd-wifi.m3u8

U.S. Treasury Secretary Scott Bessent said two-day trade talks with China were very constructive, and that the final decision on the extension lies with President Trump.

U.S.-China Trade Officials Discuss Tariff Truce Extension

With respect to a potential pause, we're gonna head back to Washington DC, and we're gonna talk to the president about whether that's something that he wants to do. It's certainly something that's been under discussion. And so we'll brief the president on the outcome of this, and we'll see if there are any, we have further technical discussions that are happening right now as we speak among the teams. And so the president can make a final call on whether that's something that he wants to do with this decision.

I'm just wondering if we can get some clarity on the tariff level that has threatened to happen on April 12th. I know the April 2nd tariffs were 34%. You add that to the fentanyl, 54%, that's where the tariffs are for many goods right now, so what is the overall threat to the Chinese in terms of a tariff level that could happen if there is no extension?

Well, I think you've seen, I've used the word boomerang, so if we boomerang back to the April 2nd level, if they would go to 34, I noticed as the earlier question said, that the Chinese deputy minister did say that we had agreed on a pause. We have not, nothing is agreed, until we speak with President Trump. He's on Air Force One, I believe, doing a press conference right now. And we will be seeing him in the Oval tomorrow to go over the deal with him, and then he'll decide that if the pause continues as is.

And just to be clear, Kevin, the present has discretion to change the rate, depending on the circumstances that we have, et cetera. So while the snapback rate would be 34%, he of course has discretion under the law to modify that.

Journalist: Yeah, my question is just the 34% is under the tariff level that's current for many goods, so would that be additive to what we have already?

Yes, yes.

Journalist: Would it be on top, okay.

Yes.

Journalist: So we're talking about the threat, is that tariffs kind of in the 80-85% level?

Yeah, depending on the product.

Journalist: Depending on the product,

Yeah, but just kinda to tamp down that rhetoric. The meetings were very constructive. We were just, we haven't given the sign off.

U.S.-China Trade Officials Discuss Tariff Truce Extension

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