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BESSENT: NO UNILATERAL OFFER FROM TRUMP TO CUT CHINA TARIFFS

BESSENT: FULL CHINA TRADE DEAL MAY TAKE 2-TO-3 YEARS

BESSENT: DOES NOT HAVE TIME FRAME FOR START OF CHINA TALKS, WILL HAVE TO TAKE PLACE AT LOWER LEVELS THAN TRUMP AND XI

*TRUMP SAID TIMING OF TARIFF REDUCTIONS DEPENDS ON CHINA; WILL SET NEW CHINA TARIFF LEVELS IN NEXT 2–3 WEEKS; IF WE DON'T MAKE A DEAL WITH CHINA, IT'S OK

UPDATE: CHINA COMMERCE MINISTRY: ANY CONTENT ABOUT CHINA-US ECONOMIC AND TRADE NEGOTIATIONS IS 'GROUNDLESS AND HAS NO FACTUAL BASIS'; IF US REALLY WANTS TO RESOLVE THE ISSUE, IT SHOULD LIFT ALL UNILATERAL TARIFF MEASURES AGAINST CHINA