Treasury chief says Iran war could delay US‑China summit
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- Scott Bessent said any delay to the March US‑China summit would stem from logistics, not trade disputes, because President Trump may need to stay in Washington while the war with Iran is prosecuted.
- He Lifeng co‑led two days of Paris talks with Jamieson Greer and Scott Bessent, describing them as constructive and emphasizing stability in the bilateral relationship ahead of the March 31‑April 2 summit.
- Li Chenggang described the Paris talks as “in‑depth, candid and constructive,” and said both sides committed to maintaining stable tariff levels.
- Jamieson Greer outlined a “work plan” to expand US exports of agricultural and energy goods and to create a “US‑China Board of Trade” for managing imports and exports.
- Li Chenggang voiced “solemn concern” about US Section 301 investigations targeting China, warning they could trigger new tariffs within months after the Supreme Court struck down Trump’s emergency tariffs.
- Wendy Cutler noted that with Washington focused on the Iran conflict, major trade breakthroughs at the summit are unlikely and any deliverables may be spread out over the year.
Why it matters: The clarification that the summit’s timing hinges on the Iran war rather than trade negotiations signals to Chinese officials that the U.S. will not leverage the meeting to press trade concessions, while U.S. firms eyeing expanded agricultural and energy exports may face delayed market access.
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