U.S. Treasury Secretary Scott Bessent said Friday he's optimistic about reaching a trade agreement with China as President Donald Trump launched a sweeping new round of tariffs affecting dozens of countries.

The Stockholm meeting, following similar talks in Geneva and London, is set to extend a 90-day pause on those tariffs. During the hiatus, U.S. tariffs have been lowered to 30% on Chinese goods, and China set a 10% tariff on U.S. products.