US Treasury Secretary Bessent says US-China trade meetings in Paris "very good", via CNBC interview; we will see whether Trump China visit goes as planned; false to say China trip maybe delayed on Iran

• If Trump delays China, it would be due to prosecuting war.
• Any potential rescheduling would be attributed to logistical issues; Trump remains in Washington to coordinate war efforts.
• Will be issuing a statement in the next few days regarding US-China talks.
• Did talk about the new tariff regime.
• Export restrictions are not under discussion; the focus remains on economic dialogue.
• Will be little change in tariff revenues after the 301 and 122 tariff investigations.
• Reiterates the US wants to reshore manufacturing.
• Do not want to decouple from China but aim to bring strategic industries back.
• On Iran/oil, any actions to address prices depend on the duration of the war.
• Reiterates the US wants to destroy the Iranian regime's military capabilities.
• Wants to bust the myth that the Iran government is smoothly running.
• Reiterates that they think the current Ayatollah is injured, possibly incapacitated.
• Firing on neighbours was a big mistake.
• The US has been allowing Iranian ships to pass through the Straits to provide fuel to the rest of the world; it believes that some Chinese ships have gone out as well.
• We're fine with Iran letting some fuel of of Hormuz.
• We believe there will be a natural opening that Iranians are letting out
• Deficit is about 10-14mln barrels a day from the Gulf.
• As soon as the markets are well supplied and the war is over, the US will go back regarding the Russian waiver.
• On oil market intervention, says have not done that yet; not sure under what authority that would be.
• When asked about whether USD 80/bbl oil in a couple of months is accurate, he said perhaps much lower.

Bessent’s remarks emphasize a commitment to maintaining economic dialogue with China while navigating current geopolitical tensions, particularly with Iran. The potential delays in Trump's visit to China could create uncertainty in trade negotiations, which may impact market sentiment and risk assets. Additionally, his comments on oil and tariffs suggest a careful approach to energy prices and trade policies, although they remain closely tied to the evolving geopolitical landscape.