US continues to consider major trade deals

Washington [US], August 14: Reuters on August 13 quoted US Treasury Secretary Scott Bessent as saying that US and Chinese trade officials will meet in the next 2-3 months to discuss the future of the economic relationship between the two countries. The information was released one day after the two sides extended the trade "ceasefire" for another 90 days.
In an interview with Fox Business on August 12, Minister Bessent said that Chinese President Xi Jinping had invited US President Donald Trump to meet, but there was no specific schedule. China did not immediately comment on this information. Previously, on August 5, President Trump said that the US and China were very close to a trade agreement and that he would meet with President Xi before the end of the year if the two sides reached an agreement. Minister Bessent said the US would need to see China's progress in stopping the flow of fentanyl for "months, if not quarters, even years" before considering reducing tariffs.
Washington has accused Beijing of failing to stem the flow of chemicals used to produce fentanyl, one of the leading causes of overdose deaths in the US. China has defended its record on drug control and accused the US of using the fentanyl issue as a pressure tactic.
In the interview, Bessent said the US still has a number of major trade deals to finalise, including with Switzerland and India. He said India has been a bit stubborn, although he remains hopeful that the Trump administration can wrap up trade talks by the end of October. "That's an ideal goal, but I think we're in a good position and will reach terms with all the important countries," he said.
Regarding negotiations with the US, The Indian Express reported on August 13 that Indian Prime Minister Narendra Modi may meet President Trump during his visit to the US next month to attend the UN General Assembly meeting starting on September 9.
The news of Modi's visit comes after the US announced an additional 25% tariff on Indian goods over its continued purchases of Russian oil, Reuters reported. The new measure brings the total US tariffs on Indian imports to 50%. Trade talks between the US and India have stalled after five rounds of talks, due to disagreements over opening up India's agriculture and dairy sectors and ending purchases of Russian oil.
Source: Thanh Nien Newspaper