U.S. Treasury Secretary Scott Bessent has reported substantial progress in trade talks with China, describing recent negotiations as productive. Despite this optimism, he noted that formal trade talks have not yet commenced, contradicting earlier statements from President Trump. Bessent highlighted the potential for significant trade deals to be announced in the coming week, however, he also emphasized that the U.S. must seek fair trade conditions before proceeding further. While some details remain uncertain, Bessent has expressed confidence in reaching agreements with multiple nations, though he reiterated that discussions with China are currently stalled.