China’s move to impose 84 per cent retaliatory tariffs against the United States is unfortunate and a losing proposition for Beijing, US Treasury Secretary Scott Bessent said on Wednesday.
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“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system,” Bessent said in an interview with Fox Business Network.
Bessent said allies wanted to discuss how to rebalance China’s trade policies in talks with US officials.
“That is the big win here. The US is trying to rebalance toward more manufacturing. China needs to rebalance towards more consumption,” he said.
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China condemns US ‘bullying’ as Trump’s 104% tariffs kick in, vows resolute measures
China condemns US ‘bullying’ as Trump’s 104% tariffs kick in, vows resolute measures
Bessent also warned Beijing against trying to devalue its currency as a way to respond to the new tariffs.
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