U.S. Treasury Secretary Scott Bessent said Friday he's optimistic about reaching a trade agreement with China as President Donald Trump launched a sweeping new round of tariffs affecting dozens of countries.

U.S. Treasury Secretary Scott Bessent said on Friday that he believed that Washington has the makings of a deal with China and that he was "optimistic" about the path forward. "This week's negotiations in Stockholm have advanced our talks with China,

Chinese and American trade negotiators concluded their two-day meeting in Stockholm without a clear path forward to avert tariffs from skyrocketing back to ultra-high levels that formed an effective blockade on trade between the world’s two largest economies.