Constructive Talks Between US and China

US Treasury Secretary Scott Bessent highlighted the positive atmosphere of the discussions with Chinese officials, describing them as "very constructive" during a press conference in Stockholm. The talks, which spanned over two days, focused on key areas of mutual interest and concern.

De-risking, Not Decoupling

Bessent emphasized the US's intention to "de-risk" rather than decouple from China, specifically mentioning rare earths, chips, and medicines as critical areas. This approach aims to safeguard national security while maintaining economic ties.

China's Concessions and Concerns

US Trade Representative Jamieson Greer noted China's significant concession regarding rare earth magnets. Meanwhile, Bessent shared that China was taken aback by the scale of US trade agreements and raised concerns over dual-use technology sales and oil purchases from Iran.