Washington, Aug. 20 -- The Trump administration is "very happy" with the current tariff arrangement with China, Treasury Secretary Scott Bessent said today, signalling a rare note of stability in relations between Washington and Beijing as the trade truce nears its November expiry, reports Axios.
Speaking to Fox News, Bessent said the tariff regime was functioning as intended and remained a key source of revenue for the US government.
"China is, right now, the biggest revenue line in the tariff income," he noted, adding: "If it's not broke, don't fix it. We have had very good talks with China. I imagine we'll be seeing them again before November."
His remarks come as the world's two largest economies prepare for the Nov 10 expi...