Treasury Secretary Bessent Testifies on Budget, Trade Before House

Treasury Secretary Scott Bessent on Thursday declined to give clarity on the timeline for U.S. tariffs on China. In May, the U.S. and China agreed to a 90-day pause on sky-high tariffs, giving them months to negotiate a broader trade deal before levies up to 145% could be reimposed.

Treasury Secretary Scott Bessent is testifying before the House Ways and Means Committee in Washington, D.C., where he boasted new Consumer Price Index data that showed cooling inflation. The rate did show a slight rise from April's numbers,

The Trump administration is “highly likely” to extend next month’s deadline for countries to agree one-for-one trade deals — so long as they are engaged in “good-faith negotiations,” Treasury Secretary Scott Bessent told lawmakers Wednesday.

Treasury Secretary Scott Bessent comments on tough trade negotiations with China during an interview with CBS's Margaret Brennan on "Face The Nation." MARGARET BRENNAN: There's so much to get to. I want to start with China,

U.S.-China talks on trade have been “productive,” U.S. Treasury Secretary Scott Bessent said. After two full days of talks in London, Bessent said he was heading back to the U.S. for planned testimony to Congress on Wednesday.

Chinese state media say that the U.S. and China have agreed in principle on a framework to resolve their trade disputes.