#USChinaTariff tussle
‘The Chinese will see this high tariff level is unsustainable for their business,’ says Scott Bessent.
The US treasury secretary, Scott Bessent, said “there is a path” to an agreement with China over tariffs after he had interactions with his Chinese counterparts last week in Washington.
“I had interaction with my Chinese counterparts, but it was more on the traditional things like financial stability, global economic early warnings,” Bessent told ABC News’s This Week on Sunday, explaining that he had spoken to the Chinese during International Monetary Fund meetings in Washington. “I don’t know if President Trump has spoken with Chinese President ” he added.
On Friday, Donald Trump claimed during an interview that discussions regarding tariffs were ongoing with China, a statement he reiterated while en route to Rome for Pope Francis's funeral. However, this assertion was subsequently refuted by China's foreign ministry, which stated that the United States should cease its attempts to create confusion.
A day later, China’s foreign minister, said Beijing abides by international rules on US-imposed tariffs and would seek solidarity with other countries.
He stated that the Chinese will recognize that the current high tariff levels are not sustainable for their businesses. He further noted that Beijing's assertion of no ongoing negotiations is aimed at a domestic audience. "I believe they are catering to a different demographic," Bessent remarked. "We have established a process, and I maintain that these tariffs imposed by China are not viable in the long term."
On Sunday, US Agriculture Secretary Brooke Rollins stated that the United States engages in daily discussions with China regarding tariffs. 'We are in dialogue with China every day, as well as with approximately 99 to 100 other countries that are involved in these negotiations,' Rollins remarked during an appearance on CNN's State of the Union.
Furthermore, Rollins indicated that the president is ready to provide financial assistance to American farmers if the ongoing trade conflict continues to adversely affect commodity exports, especially in the areas of soybean and pork sales to China.
Rollins said it could take months before it is known whether a bail-out is needed.
“I don’t think we’re going to need it, but if we do, it will be there,” Rollins said.
You’ve been such a valuable member of our BINANCE TEAM!
This isn't the end; it's just a new beginning.
I wish you all the best because you deserve nothing less.
Enjoy your well-earned . You deserve it!
🔸Follow share Like & comment 👇🏻
