On July 21, US Treasury Secretary Scott Bessent stated that the Trump administration is in no rush to finalize a trade agreement with China, emphasizing that negotiations are still ongoing. Bessent also indicated that the talks may extend beyond tariff-related matters to include “other issues.”
Referring to these “other issues,” Bessent highlighted China’s cooperation with Iran and Russia. He noted that Beijing remains a significant purchaser of sanctioned Iranian and Russian oil, suggesting that these topics could also become part of the broader trade negotiations.
In response, Chinese Foreign Ministry spokesperson Guo Jiakun reiterated Beijing’s established stance on tariffs:
“We hope the US will work with China to implement the important consensus reached by the two heads of state during their phone call, make full use of the China-US economic and trade consultation mechanism, enhance mutual understanding through dialogue and communication, reduce misunderstandings, strengthen cooperation, and promote the stable, sound, and sustainable development of China-US relations.”
It is worth noting that, while the Trump administration has recently issued cautiously optimistic messages regarding trade negotiations, Chinese officials have maintained a more neutral tone. On July 18, Chinese Commerce Minister Wang Wentao stated that recent bilateral talks demonstrated there is “no need” for a tariff war between the two nations. He added that both parties now understand their mutual interdependence, as many of the goods and services they exchange are “irreplaceable.” Wang also underscored the burden imposed by the current US tariffs on Chinese goods, which stand at 53.6%.
Earlier, on July 17, Liu Pengyu, a spokesperson for the Chinese Embassy in Washington, commented that recent US-China engagements have fostered high-level dialogue. He emphasized that the economic and trade consultation mechanism should serve to strengthen bilateral relations based on “equal attitude,” mutual „respect,” and a commitment to a “win-win” outcome.
Recent remarks by Chinese officials suggest that Beijing remains reluctant to make concessions in the ongoing tariff dispute. In this context, any attempt to expand the scope of trade negotiations to include China’s oil trade with Iran and Russia could further strain relations between the two countries.
