US Treasury Secretary Scott Bessent said on Monday the US will give a 30-day extension for countries to import Russian oil that is already in tankers at sea, a move that is meant to reduce the oil supply shortages caused by the Iran war. The announcement marks a continued policy reversal by an administration that had previously said the sanctions on Russian oil would resume. Originally announced in early March, the temporary waiver on the sanctions was first renewed in April, just two days after...
“Large Boeing orders” appear to be coming, US Secretary of the Treasury Scott Bessent told CNBC on Thursday, adding that China and the US will discuss establishing a new joint board of trade to manage commercial ties. “I think we’re going to see the large Boeing orders,” Bessent said. The agreement, if material, would mark the first such order after a nearly decade-long drought fuelled by geopolitical and regulatory stand-offs, serving as a high-profile “deliverable” from US President Donald...
Senior officials from China and the United States have started a new round of trade talks in Seoul, South Korea, hours ahead of US President Donald Trump’s scheduled arrival in Beijing. The delegations – led by Chinese Vice-Premier He Lifeng and US Treasury Secretary Scott Bessent – arrived at Terminal 1 of Incheon Airport around noon on Wednesday Seoul time. The two officials had both paid courtesy calls to South Korean President Lee Jae Myung in the morning. This is the seventh round of...
The next round of US-China trade talks appears to be a rushed precursor intended to set the stage for President Donald Trump’s state visit to Beijing, according to analysts who expect only modest deliverables from the negotiations. Chinese Vice-Premier He Lifeng will meet US Treasury Secretary Scott Bessent in South Korea this week, both sides have confirmed, marking the latest in a series of diplomatic sprints intended to stabilise the world’s most consequential economic relationship. The...
Chinese Vice-Premier He Lifeng will travel to South Korea this week for trade talks with US Treasury Secretary Scott Bessent, both sides confirmed on Sunday, in the final round of negotiations before a summit between President Xi Jinping and US President Donald Trump in Beijing. The meeting is scheduled for May 12 and 13 in Seoul and comes days before Trump’s state visit to China on May 14 and 15. China’s Ministry of Commerce said He would lead a delegation to hold economic and trade...