Treasury Secretary Scott Bessent dismissed the possibility that Chinese investments in the US could be part of any trade pact, comments that narrow the options for the two sides to resolve their running dispute.

U.S. levies on Chinese goods like toys, footwear and furniture could rise sharply if a deal is not approved by Tuesday’s deadline.

President Donald Trump on Monday extended a tariff truce with China for another 90 days, setting the stage for broader negotiations between the world’s two biggest economies.