While Bessent told Trump on a call that the meeting with China was “very good,” U.S. tariffs on Chinese goods will “boomerang” back up to their April levels if an extension is not reached by the Aug. 12 deadline, the Treasury Secretary told reporters Tuesday. The trade teams will likely meet again in another 90 days, Bessent added. Investor sentiment took a hit, with mixed corporate earnings and forecasts compounding the gloom and sending markets lower after recent gains.
onsdag 30. juli 2025
Time’s running out before April tariffs boomerang on China
The much-anticipated U.S.-China trade talks in Sweden turned out to be a letdown after they concluded Tuesday with no trade truce extension. Why? Any decision would have to be signed off by President Donald Trump, Treasury Secretary Scott Bessent told CNBC.
While Bessent told Trump on a call that the meeting with China was “very good,” U.S. tariffs on Chinese goods will “boomerang” back up to their April levels if an extension is not reached by the Aug. 12 deadline, the Treasury Secretary told reporters Tuesday. The trade teams will likely meet again in another 90 days, Bessent added. Investor sentiment took a hit, with mixed corporate earnings and forecasts compounding the gloom and sending markets lower after recent gains.
While Bessent told Trump on a call that the meeting with China was “very good,” U.S. tariffs on Chinese goods will “boomerang” back up to their April levels if an extension is not reached by the Aug. 12 deadline, the Treasury Secretary told reporters Tuesday. The trade teams will likely meet again in another 90 days, Bessent added. Investor sentiment took a hit, with mixed corporate earnings and forecasts compounding the gloom and sending markets lower after recent gains.
