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Despite previous claims by some Trump administration officials that trade talks with China were underway, Treasury Secretary Scott Bessent has told US lawmakers that there have been no talks with China.

Some shit you should know before you read: If you’re unaware, President Donald Trump has repeatedly suggested that trade talks with China were ongoing, despite a lack of confirmation from Beijing. In recent public remarks, Trump claimed, “They want to negotiate, and they want to have a meeting,” implying that China was eager to resolve the ongoing tariff war. He also stated that “we’re talking at various levels.” However, Chinese officials have consistently denied that formal talks are taking place, saying only that they are “assessing US proposals” and have not entered negotiations.

What’s going on now: While speaking to lawmakers on Capitol Hill today, Secretary Scott Bessent was asked about the current state of US trade negotiations, particularly with China. He made clear that no formal talks with Beijing have begun, stating unequivocally, “China we have not engaged in negotiations with as of yet.” This directly contradicts earlier implications by President Trump that discussions with China were already in motion.

Bessent also spoke about the broader scope of US trade talks, noting that the administration is actively negotiating with most of its important trading partners. “There are 18 very important trading relationships. We are currently negotiating with 17 of those trading partners,” he told the House Financial Services Appropriations Subcommittee. He expressed optimism about the pace of these negotiations, adding, “I would be surprised if we don’t have more than 80 or 90 percent of those wrapped up by the end of the year.”

He suggested that announcements of new deals could come as soon as this week, pointing to “very good offers” from countries engaged in talks.

In addition to the negotiations themselves, Bessent addressed key trade-related issues such as tariffs and the US trade deficit. He stated the administration is seeking “a substantial reduction in the tariffs that we are being charged, as well as nontariff barriers, currency manipulation and the subsidies of both labor and capital investment.”