Bessent Plays It Cool on Tariffs Even as US-China Friction Persists

For now, Washington seems content to keep things steady with Beijing.

Treasury Secretary Scott Bessent says the US is “very happy” with the current tariff setup, calling it a system that’s working well and noting that China as the biggest source of tariff revenue. It’s a sign the Trump administration doesn’t want to rock the boat before the trade truce expires in November — and could be paving the way for a meeting between President Donald Trump and Chinese leader Xi Jinping in the meantime.