"President Trump and President Xi are great friends, and Scott Bessent is really one of the best negotiators there ever was. He's a successful businessman. We're still hopeful that we can get this thing worked out," Hassett said.
Bessant said the Trump administration, while hopeful of progress in the upcoming Trump-Xi meeting in South Korea, will not accept what he described as Beijing's "unworkable and unacceptable" licensing regime.
United States President Donald Trump on Wednesday (local time) announced his upcoming diplomatic trip to Malaysia, South Korea, and Japan, highlighting a significant meeting with Chinese President Xi Jinping in South Korea.
US Treasury Secretary Scott Bessent said he was "optimistic" about trade talks with China and confirmed that "President Trump is a 'go' on that" meeting with Xi Jinping at the APEC summit, despite rising tensions over Beijing's rare earth export restrictions.
US Treasury Secretary Scott Bessent said the US and China had "substantially de-escalated" and that he expected a planned meeting between Trump and Xi at the APEC forum in South Korea in late October to go ahead.
US President Donald Trump on Wednesday (local time) said that he will meet Chinese President Xi Jinping in four weeks, with the soybean issue to be a significant topic of their discussion.
US President Donald Trump signed an executive order on Friday approving a deal involving the popular video-sharing app TikTok, signalling a shift towards American ownership and control.
In a week marked by tense phone calls and high-stakes negotiations, a group of US lawmakers has touched down in China on a rare visit, hoping to thaw icy ties between the two superpowers
Sharing the details of the conversation in a post on Truth Social, Trump highlighted that the two leaders discussed issues such as trade, fentanyl, the Russia-Ukraine conflict and approval of the TikTok deal.
While the US emphasised that the ties between Washington and Beijing are the most important bilateral relationship in the world, China urged the US to avoid taking unilateral trade-restrictive measures, as per Xinhua.