US Treasury Secretary's Firm Stance on Trade Dispute

United States Treasury Secretary Scott Bessent responded sharply to China's recent tariff hikes on US goods, which soared to 84% as a countermeasure to the US's 104% tariff on Chinese exports. "So what," Bessent remarked, emphasizing that such actions would not deter the US. He issued a stern warning to Beijing, advising against attempting to "devalue its way out" of the ongoing trade dispute, labeling currency devaluation as a "tax on others."

Call for Diplomatic Engagement

Bessent urged China to engage in constructive dialogue to resolve the trade tensions. During an interview with Fox News, he revealed that the US is exploring various measures, including the possibility of delisting Chinese companies from US stock exchanges. Furthermore, Bessent called on the Chinese government to take action against the export of fentanyl precursors to the US, highlighting the Trump administration's stance on China's accountability in the opioid crisis.