US and China trade talks have stalled, Scott Bessent says

The US treasury secretary says Trump and Xi Jinping may need to get directly involved in talks.

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His comment comes less than three weeks after a temporary trade truce was agreed between the world's two largest economies, with both agreeing to reduce tit-for-tat tariffs.

Bessent told Fox News on Thursday: "I think that given the magnitude of the talks, given the complexity, that this is going to require [leaders of both the countries] to weigh in with each other".

Donald Trump's global tariff regime was dealt a blow on Wednesday following a ruling that he had exceeded his authority. His plans have been temporarily reinstated after the White House appealed the decision.

Both the US and China confirmed they would reduce tariffs imposed on each other's imports earlier this month, following talks in Switzerland.