US Treasury Secretary Scott Bessent told a House Financial Services Committee hearing on May 7 that the administration will begin "negotiations" with Chinese officials on trade in Switzerland on May 10.
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00:00Yes, ma'am.
00:01But I don't want the clock to be eating my time.
00:06Really help borrowers take the funds advice when it keeps giving China a free pass.
00:13In congressional testimony yesterday, you said the U.S. has not started negotiating with China on tax reductions.
00:23Does that continue to be your position, yes or no?
00:26As you may have read.
00:28Yes or no, sir.
00:29As you may have read in the press, I will be going to Switzerland and the negotiations will begin on Saturday.
00:37OK, so the president told you that that will be your answer today.
00:44Well, the the trade negotiations will be led by myself and Ambassador Jameson Greer and USTR.
00:53And what about Pete Navarro?
00:57Sorry.
00:57Peter Navarro.
00:59He will see he will not be joining us in Geneva.
01:03Thank God for that.
01:04Are those negotiations considered advanced?
01:07Pardon?
01:08Are those negotiations considered advanced?
01:12As I said, on Saturday, we will begin, which I believe is the opposite of advanced.
01:17It is time for China to graduate from developing countries status.
01:23It is the second largest economy in the world.
01:26They are a large, important economy, and they should no longer be granted the status of a developing economy.
01:42It is the second largest economy in the world.
01:46It's the trespass of Malaysia.
01:47It must be equal to conditions.
02:05I want to be wont to multiplet your feet and come back.