Treasury Secretary Bessent on US-China Tariffs and Trade Negotiations

US-China Trade Discussions

• ❓ Treasury Secretary Scott Bessent was questioned about whether the US is specifically discussing tariffs with Beijing.
• 🗣️ Bessent declined to detail specific conversations but stated that Chinese tariffs are unsustainable for China.

Economic Impact of Tariffs

• 📉 Bessent indicated that if current tariff numbers persist, China could lose 10 million jobs.
• ⚖️ He noted that the US is the deficit country, implying the onus is on China to remove tariffs.
• ⚠️ Even a drop in tariffs could still result in China losing 5 million jobs.

Diplomatic Communication

• 🎭 Bessent suggested that China plays to a different audience due to their form of government.
• 🤐 He reiterated that he would not disclose the specifics of who is talking to whom regarding trade.
• ❓ When asked if President Trump had spoken to Xi Jinping, Bessent humorously deflected, comparing his role to running a switchboard.