Treasury Secretary Scott Bessent said Thursday President Trump and Chinese leader Xi Jinping may need to hold a phone call to overcome stumbling blocks in trade negotiations. The big picture: Bessant helped the U.

The United States is in the middle of a trade war with China, though the tariffs between the countries have been paused after a temporary agreement.

Trade talks between the U.S. and China are “a bit stalled,” Treasury Secretary Scott Bessent said Thursday, adding that a breakthrough will likely hinge on President Donald Trump and Chinese President Xi Jinping speaking directly.