Just weeks ago, markets rejoiced as a de-facto trade embargo between the world’s two largest economies was called off — with US President Donald Trump declaring a “total reset” with China. Yet, the reality of that reset is starting to look awfully familiar.

Trade talks between the US and China are "a bit stalled", the US Treasury Secretary Scott Bessent has said. His comment comes less than three weeks after a temporary trade truce was agreed between the world's two largest economies,

So suggested U.S. Trade Representative Jamieson Greer in a CNBC interview on Friday, shortly after bearish comments from President Donald Trump helped take stock futures lower, and a day after Treasury Secretary Scott Bessent laid out what it would take for a breakthrough in negotiations.