US-China trade negotiations show progress but remain stalled on China's continued purchase of Iranian and Russian oil. The US threatens a 100% tariff, while China asserts its right to secure its energy supply. While optimism for a broader trade deal exists, China's defiance on oil imports highlights a significant sticking point. Secretary Bessent described China as 'tough' negotiators but believes a deal is possible. Experts suggest the US may not impose the tariff due to potential disruption of recent progress. China's actions reflect its strategic partnership with Russia and Iran, and its leverage in negotiations.

Prepared by Rachel Morgan and reviewed by editorial team.