Despite claiming “substantial progress” in ongoing trade negotiations with China, the White House has yet to finalize or announce a formal deal, leaving investors uncertain about what comes next.
In a statement issued on May 11, Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer said the talks had been “productive” and that more details would be shared on May 12. However, neither official confirmed the existence of a finalized trade agreement, raising doubts among market watchers who are closely tracking developments in the high-stakes negotiations.
“I am happy to report that we made substantial progress between the United States and China in the very important trade talks,” said Bessent. “We will be giving details tomorrow, but I can tell you that the talks were productive.”
Notably, the term “deal” was absent from his remarks.
Greer briefly referenced a potential agreement but did not elaborate, further deepening investor skepticism. Markets have been hoping for clarity and relief amid the continued tensions, especially following US President Donald Trump’s aggressive tariff policy, which has rattled traditional financial and digital asset markets in recent months.
Although markets have regained some ground lost during the initial sell-offs triggered by sweeping tariffs, investor confidence remains shaky. Analysts point to the administration’s inconsistent messaging on trade policy as a key source of volatility.
In one example of that unpredictability, the US Customs and Border Protection announced in April 2025 that tariffs would be lifted on certain tech products—including smartphones, chips, and computers—following White House instructions. However, a day later, US Commerce Secretary Howard Lutnick reversed course, stating the exemptions were only temporary pending a broader, sector-specific tariff policy.
The back-and-forth has led critics to question the administration’s trade strategy, warning that the lack of a clear, cohesive approach could prolong market instability and hamper economic growth.
With the White House promising more information by May 12, investors are watching closely for signs of a concrete agreement—or yet another delay in resolving the trade dispute.
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