- Besent says he believes us that China does not need to decoupling.
- He says that dealing with China is more difficult than with other nations.
- China is the main economic and military rival of the United States, says Besent.
Buenos Aires: The United States Secretary of the United States, Scott Besent, criticized China’s Minister of Commerce for saying goodbye to President Donald Trump’s tariffs as a “joke.” However, he emphasized that an important agreement with Beijing could still be reached in the midst of the growing commercial war between the two economic giants.
“There is a big problem to do at some point,” Besent said when asked Bloomberg TV on the possibility that the world’s largest economies are decoupled.
“There shouldn’t be,” said decoupling, said: “But there could be.”
Besent emphasized that an agreement with China would be more difficult than with other nations because “China is our greatest economic competitor and our largest military rival.”
The two largest economies in the world have been locked in a Brinkmanship game of rapid movement since the president of the United States, Donald Trump, launched a global tariff assault that went particularly to Chinese imports.
Tit -for-OT exchanges have seen US taxes imposed on China to 145 percent, with Beijing establishing a 125 percent retaliation band in US imports.
The American side has sent mixed messages about what you want to achieve and if you can avoid rates that would rock the world economy.
The White House seemed to increase the pressure recently, listing the exemptions of tariffs for smartphones, laptops, semiconductors and other electronic products for which China is an important source.
But Trump and some of his main assistants said Sunday that the exemptions had been misunderstood and that they would only be temporary since their team pursued new rates against many articles on the list.
“No one is ‘out of the hook’ … especially China, which, by far, treats us the worst!” He published on his true social platform.
Besent warned that Trump’s tariffs “were not a joke.”
“These are large numbers. I think no one who thinks they are sustainable wants them to remain here.”
The Xi Jinping of China began on Monday a tour of Southeast Asia with a visit to Vietnam, where it warned that protectionism “will not lead anywhere” and a commercial war “would not produce winner.”
“We must strengthen the strategic resolution, oppose unilateral harassment and maintain the stability of the global free trade system, as well as industrial and supply chains,” XI told the main leader of Vietnam, to LAM.
The White House has said that Trump is still optimistic about ensuring a commercial agreement with China, although administration officials have made it clear that they hope Beijing will communicate first.
The commercial war is increasing the fears of an economic recession as the dollar falls and investors throw bonds of the United States government, which are normally considered a safe refuge investment.
