Bloomberg reported that on July 15 local time, U.S. Treasury Secretary Janet Yellen hinted that the original deadline for a temporary halt to China-U.S. tariffs arriving next month is flexible.

She pointed out that negotiations between the world's two largest economies are in "very good shape" ahead of meetings expected to be held in the coming weeks.

Janet Yellen photo Bloomberg

According to reports, on July 15 local time, Yellen told Bloomberg Television, "I told market participants not to worry about the date of August 12." Bloomberg noted that Yellen was referring to the deadline for suspending the imposition of additional tariffs on certain goods for 90 days announced on May 12.

Yellen said she hopes to meet with Chinese officials soon, possibly in a third country, and the time may be early August.

"We are still working on it," Yellen said.

According to reports, NVIDIA stated that the U.S. government recently assured it that it will approve licenses for the sale of H20 chips to the Chinese market.

On July 15, Huang Renxun, founder and CEO of NVIDIA, told CCTV News that the U.S. had approved the sale of H20 chips to China.

On July 15, Yellen confirmed this development to Bloomberg Television and said that approving such licenses is part of the negotiations between the Trump administration and China.

"This is all part of the puzzle," Yellen said, "they have what we want, and we have what they want."

He emphasized that the negotiations between China and the United States are in very good condition.

On July 7, Yellen had previously stated that she expects to meet with her Chinese counterpart in the coming weeks to advance discussions between the two countries on trade and other issues.

The next day, U.S. Commerce Secretary Howard Lutnick said in an interview that he expected to meet with his Chinese counterpart in early August to initiate a larger-scale trade dialogue.

Lutnick revealed at the time that Yellen and U.S. Trade Representative Katherine Tai would lead the effort together.

Regarding whether China and the United States will hold talks in early August, on July 10, He Yongqian, spokesperson for the Ministry of Commerce, responded that since May this year, under the guidance of the consensus between the leaders of the two countries, both sides' economic and trade teams have held high-level economic and trade talks in Geneva and London, reaching the Geneva Consensus and the London Framework, and are working to implement the relevant outcomes, stabilizing the economic and trade relationship between the two countries.

Currently, both sides maintain close communication at multiple levels on various concerns in the economic and trade field. The hope is that the U.S. side will move in the same direction as China, and based on the principles of mutual respect, peaceful coexistence, and win-win cooperation, give full play to the role of the China-U.S. economic and trade consultation mechanism, continue to strengthen dialogue and communication, and take concrete actions to safeguard and implement the important consensus from the phone call between the two heads of state, jointly promoting the stable, healthy, and sustainable development of China-U.S. economic and trade relations, and injecting more certainty and stability into the world's economic development.

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