US-China Trade Talks Show Cautious Optimism Amid Tariff Deadline

Scott Bessent, a key figure in financial circles, anticipates the US and China will find common ground in their ongoing trade negotiations. The latest round of talks, held in Sweden, marks the third high-level engagement since the TRUMP administration introduced tariff threats against trading partners.

The trade war, ignited by Trump's tariffs on Chinese goods and subsequent retaliatory measures, nearly triggered a global economic crisis. With the 90-day tariff pause set to expire on August 12, both nations are under pressure to reach an agreement. The discussions follow a May meeting between Presidents Trump and Xi Jinping in Switzerland.

While some officials like Greer remain skeptical about a major breakthrough, US Treasury Secretary Scott Bessent has struck an optimistic tone. The outcome of these talks could have ripple effects across global markets, including cryptocurrency sectors sensitive to macroeconomic policy shifts.