US Failure: The Secretary of the Treasury Found Himself in a Humiliating Situation After the Deal with China Fell Through
In July 2025, the United States suffered a serious diplomatic and economic blow in the trade standoff with China.
US Secretary of the Treasury Scott Bessent found himself in a difficult and humiliating position after the failure of key negotiations in Stockholm, where Washington hoped to push favorable terms for itself.
Instead, China took a hard stance, refused to make concessions, and used the US dependency on Chinese supplies, primarily rare earth metals, as a tool of economic pressure.
This move deprived the US of leverage and demonstrated that Beijing is ready to defend its own interests without compromise.