India, Aug. 20 -- US treasury secretary Scott Bessent on Tuesday said he is "very happy" with the tariff arrangement the country currently has with China, adding the status quo on the subject was "working pretty well" with China.

When asked about the current tariff situation and a potential trade agreement with China, Bessent said, "We're very happy...we're at 50-55% tariffs on China, by far the largest line of tariff revenue...so, if it's not broke, don't fix it." Bessent's remarks came during an interview with Fox News. "We have had very good talks with China. I imagine we'll be seeing them again before November," Bessent added.

The US's tariff deadline for China, which was scheduled to end on August 12, was extended by President Dona...