Treasury Secretary Scott Bessent has indicated that the ongoing trade negotiations between the United States and China are currently stalled, suggesting that the involvement of President Trump and President Xi Jinping may be necessary to move forward. Despite various statements of good faith negotiations from US trading partners, Bessent highlighted the challenges in achieving a trade agreement, particularly in light of recent legal developments and tensions surrounding tariffs. As businesses await further action, Bessent expressed optimism about potential trade deals being close but emphasized the need for high-level discussions to resolve the impasse.