U.S.-China talks ‘a bit stalled’ and need Trump and Xi to weigh in, Treasury Secretary Bessent says

The U.S. and Chinese flags were displayed during a bilateral meeting between the two countries in Geneva, Switzerland, on May 10, 2025.

According to Treasury Secretary Scott Bessent, U.S.-China trade discussions have hit a snag and may require direct communication between the leaders of both nations. Bessent mentioned in an interview with Fox News that more talks are likely to take place in the upcoming weeks, with a possible call between the two leaders at some point. Following heightened trade tensions, an agreement was reached in Switzerland on May 12 to temporarily roll back recent tariff increases. However, there are still issues such as U.S. tech restrictions on Beijing and China’s limited relaxation on rare earth restrictions.

Bessent emphasized the importance of both leaders getting involved in the discussions due to their strong relationship. The last conversation between President Trump and President Xi Jinping was in January, and analysts believe China will agree to another call only if there are no surprises from the U.S.

Chinese Ministry of Commerce Spokesperson He Yongqian confirmed that communication has been maintained with the U.S. after the Switzerland agreement. She urged the U.S. to correct its practices regarding chip export controls to uphold the consensus from the talks in Geneva. Regarding rare earth export controls, she stated that restrictions on items serving both military and civilian purposes align with international practices and China’s commitment to global peace and stability.

Additionally, the Trump administration announced visa revocations for Chinese students, a move criticized by China’s Foreign Ministry Spokesperson Mao Ning as unjustified and based on ideology and national security grounds.