Treasury Secretary Bessent Testifies on Budget, Trade Before House

Treasury Secretary Scott Bessent is testifying before the House Ways and Means Committee in Washington, D.C., where he boasted new Consumer Price Index data that showed cooling inflation. The rate did show a slight rise from April's numbers,

The Trump administration is “highly likely” to extend next month’s deadline for countries to agree one-for-one trade deals — so long as they are engaged in “good-faith negotiations,” Treasury Secretary Scott Bessent told lawmakers Wednesday.

Treasury Secretary Scott Bessent said he believes President Trump and Chinese President Xi Jinping will speak soon, after Mr. Trump said China violated its trade agreement with the U.S.

Chinese state media say that the U.S. and China have agreed in principle on a framework to resolve their trade disputes.

U.S.-China talks on trade have been “productive,” U.S. Treasury Secretary Scott Bessent said. After two full days of talks in London, Bessent said he was heading back to the U.S. for planned testimony to Congress on Wednesday.

Treasury's Bessent hopes U.S.-China trade ties will rebalance once China opens up to U.S. goods:: Sen. Steve Daines(R) Montana"What do you see as the next steps? You're right in the middle of this negotiation to secure a comprehensive deal with China that puts U.