Treasury Secretary Scott Bessent has stated that the US is not currently engaged in trade negotiations with China, contradicting earlier claims by President Trump. Bessent emphasized that while communication exists, substantial progress requires China to de-escalate trade tensions. He noted that the US could announce some trade deals soon but clarified that these discussions do not include China at this time. Additionally, Bessent warned that China could face significant job losses due to US tariffs, indicating that trade ties will strengthen by the end of the negotiating process.