U.S. Treasury Secretary Scott Pessin has stated that trade talks between the United States and China are currently 'stalled a bit,' suggesting that intervention from U.S. President Donald Trump and Chinese President Xi Jinping may be needed to facilitate progress.

In an interview with a news outlet, Pessin mentioned, 'I believe we will have more discussions with them in the coming weeks, and I think there may be - at some point - a phone call between Presidents Trump and Xi.'

Recently, the two largest economies in the world reached an agreement to suspend reciprocal tariffs for a period of 90 days, marking a de-escalation in the ongoing trade conflict.

This agreement followed high-level discussions between officials from both nations in Geneva, aimed at addressing the rising tensions and negotiating trade terms that could benefit both economies.

The suspension of tariffs is seen as a significant step towards mitigating the trade war that has impacted global markets and economic stability.

As trade relations continue to evolve, both countries are under pressure to find common ground, especially as negotiations extend into the new year, with various global stakeholders closely monitoring the outcomes of these discussions.