U.S. Treasury Secretary Bessent Addresses China Tariffs and Trade Deal Hope

U.S. Treasury Secretary Scott Bessent addressed the seriousness of Trump’s tariffs on China, countering claims from China’s commerce minister. He remains hopeful for a new trade deal contingent upon direct involvement from both President Trump and President Xi Jinping.

U.S. Treasury Secretary Scott Bessent has responded to China’s commerce minister, who referred to President Donald Trump’s tariffs as a “joke.” While expressing hope for a substantial trade agreement with China, Bessent emphasized that a new approach is necessary, distinct from past trade and currency agreements.

During an interview with Bloomberg Television in Argentina, Bessent remarked that any negotiations between the United States and China must be led by President Trump and Chinese President Xi Jinping. He underscored the seriousness of the tariffs, stating, “These are not a joke. I mean these are big numbers.” Bessent also noted the unsustainability of the current situation, expressing a collective desire to resolve it.

In summary, Secretary Bessent has conveyed a clear message regarding the seriousness of the tariffs imposed on China, countering claims that they are trivial. He maintains optimism for a new trade agreement while stressing the need for leadership from both nations’ presidents to navigate this complex situation effectively.

Original Source: www.usnews.com

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