As trade talks conclude, the latest trade data shows a sharp drop in Chinese imports — the lowest level since the pandemic.

The treasury secretary's remarks indicate that the Trump administration might be more inclined to shift the self-imposed deadline as it gets closer.

WASHINGTON (Reuters) -U.S. President Donald Trump said on Wednesday he would be willing to extend a July 8 deadline for completing trade talks with countries before higher U.S. tariffs take effect, but did not believe that would be necessary.

High-level trade talks between the U.S. and China wrapped up in London late Tuesday. But the negotiations are far from over.Representatives agreed to keep talking along the lines of the agreement reached in Geneva last month to temporarily lower tariffs.

Here are all the tariffs, counter-tariffs, dealmaking, and deal-breaking between the world’s two biggest economies.

• Semtech has a price-to-sales (P/S) ratio of 3.4 against a figure of 3.0 for the S&P 500 • Additionally, the company's price-to-free cash flow (P/FCF) ratio is 52.6 compared to 20.5 for the S&P 500

US Treasury Secretary Scott Bessent will testify before the House Ways and Means Committee on Wednesday, where he will be questioned about the progress of trade negotiations with China and the "big, beautiful" tax and spending bill working its way through the Senate currently.