U.S. Treasury Secretary Besten hopes to reach an agreement with allied countries and then handle the China issue as a group.
Besten also warned the EU not to seek to turn toward China and distance itself from the U.S., noting that Spain apparently supports the turning strategy. He said, "That would be tantamount to cutting off one's own path."
According to a Wednesday report by Bloomberg, U.S. Treasury Secretary Scott Besten said he envisions reaching trade agreements with America's allies and laying the groundwork for collective action against China to address what he described as China's imbalanced trade structure.
In response to questions after his speech at the American Bankers Association in Washington on Wednesday, Besten said, "We may eventually be able to reach an agreement with our allies." "They have been good military allies, but not perfect economic allies. Then, we can deal with the China issue as a group."
Besten also warned the EU not to seek to turn toward China and distance itself from the U.S., particularly pointing out that Spain evidently supports the turning strategy. He said, "That would be tantamount to cutting off one's own path."
During the American Bankers Association event where Besten delivered his speech, the EU announced tariffs on approximately 21 billion euros (23.2 billion USD) worth of American goods, some of which are set to take effect in mid-April.
Besten said that aside from upcoming talks with Japan, a Vietnamese delegation visited Washington on Wednesday. Earlier, during a Fox Business program, he also emphasized that South Korea and India are seeking talks.
He joked that he wouldn't take a holiday over Easter, implying he will be busy with trade negotiations.
Source: https://www.toutiao.com/article/1828966386891786/
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