Maximum pressure and unilateral bullying have failed in China, US Treasury Secretary: China's escalation of the situation on tariff issues with the US is a big mistake.
US Treasury Secretary Scott Bessent said that China's move to escalate the situation on tariff issues with the US is a big mistake.
"I think this move by China to escalate the situation is a big mistake," he told CNBC.
He said, "President Donald Trump currently has the greatest leverage in negotiations," and anyone who thinks otherwise is wrong."
Bessent added, "Many of our trading partners have lined up, remained calm, and will not escalate the situation, so they will have priority in the lineup."
On April 2, the US announced "reciprocal tariffs" for all trading partners, with the "reciprocal tariff" rate for China reaching 34%. On April 4, the Tariff Commission of the State Council announced that starting from 01:01 on April 10, 2025, a 34% tariff would be imposed on all imported goods originating from the United States.
Source: https://www.toutiao.com/article/1828846659841220/
Disclaimer: The article only represents the author's personal views.