Title: "Treasury Secretary Leads High-Stakes Trade Talks with China, as US Inflation Shows Signs of Easing"

US Treasury Secretary Scott Bessent is at the center of critical international economic negotiations this week, as he leads a fresh round of high-stakes trade talks with Chinese Vice Premier He Lifeng in Stockholm. Both sides met behind closed doors for nearly five hours on Monday at the Swedish prime minister's office, marking another step in efforts to break a longstanding impasse over tariffs imposed since earlier this year. The meetings come as world markets look for signs of relief after tariffs peaked at much higher levels, with current US duties on Chinese goods now at about thirty percent, and China imposing ten percent tariffs on American exports. Neither Bessent nor his Chinese counterpart made public comments after the first day, but US trade representative Jamieson Greer described the atmosphere as constructive, noting that regular engagement with China puts negotiations on stable ground, even if no deal is guaranteed at this stage, according to ABC News.

Beyond the headlines from Sweden, Bessent’s office at the Treasury released an economic statement showing encouraging signs in the fight against inflation. Core inflation averaged zero point two percent per month for the second straight quarter, while the annualized rate stood at two point four percent, a significant slowdown from the three percent seen the previous quarter. Inflation for rent of housing services also remained stable, with the expectation for further disinflation in coming months. Analysts at the Wall Street Journal’s July survey now estimate a one in three chance of a US recession in the next twelve months, down from forty five percent in April. The job market remains resilient, with private sector layoff rates at just one point one percent and renewed declines in jobless claims suggesting stronger demand through the rest of the year, according to Treasury Department reports.

The tone of the China-US negotiations is particularly important as the United States has resolved tariff issues with other major partners like the European Union, Japan, and Britain, but China is considered the toughest outstanding challenge. Former US trade negotiator Wendy Cutler observed that Beijing is approaching talks with greater pragmatism and confidence than in past years, warning that the Chinese government is less likely to accept a one-sided outcome. Bessent has indicated that the overall climate has stabilized enough for both countries to focus not simply on rolling over tariff rates, but also on establishing a longer-term and more balanced economic relationship. For both governments, the stakes remain high in charting the next phase of global trade.

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