Treasury Secretary Bessent says he is more likely to meet with China once more in ‘following couple of weeks’ to paintings on larger settlement

Treasury Secretary Scott Bessent mentioned Monday that he expects to fulfill with Chinese officers once more within the coming weeks to proceed industry negotiations.

“I would imagine in the next few weeks we will be meeting again to get rolling on a more fulsome agreement,” Bessent mentioned on CNBC’s “Squawk Box.”

The actual main points of the assembly, comparable to location, have now not been set, however there’s now a “mechanism” for additional talks, Bessent mentioned.

The feedback come after the U.S. and China introduced a 90-day pause on lots of the price lists the international locations had imposed on one any other, following a gathering between Bessent, U.S. Trade Representative Jamieson Greer and Chinese officers in Switzerland over the weekend.

“What we have with the Chinese is a mechanism to avoid upward tariff pressure,” Bessent mentioned Monday.

Under the 90-day pause, each international locations reduced their baseline tariff charge via 115 proportion issues to 10%. The 20% fentanyl-related tariff from the U.S. stays in position, so maximum Chinese items face a 30% charge in overall, down from 145% in the past.

Bessent mentioned there was once a “very long and in-depth sidebar” relating to fentanyl between two officers on the assembly.

“I think that we saw here in Geneva that the Chinese are now serious about assisting the U.S. in stopping the flow of precursor drugs,” Bessent mentioned.

Global inventory markets rallied sharply on Monday after the tariff pause was once introduced, and U.S. fairness futures pointed to a bounce when the marketplace opens in New York.