On Wednesday morning, Trump’s Treasury Secretary Scott Bessent dismissed China’s announcement on plans to raise tariffs on the United States, noting that their exports to us are five times greater than what the U.S. exports to China.
Despite China’s vow to “fight to the end” in retaliation tariffs, Bessent said in an interview with Fox Business, “I think it’s unfortunate that the Chinese actually don’t want to come and negotiate, because they are the worst offenders in the international trading system.”
“Their exports to the U.S. are five times our exports to China,” he continued. “They can raise their tariffs, but so what?”
Newsmax reports:
Beijing also added an array of countermeasures after Trump raised the total tariff on imports from China to 104%. China said it was launching an additional suit against the U.S. at the World Trade Organization and placed further restrictions on American companies’ trade with Chinese companies.
Bessent also downplayed “swings in the bond market.”
Bessent stated, “I believe there is nothing systemic about this,” noting that it is “uncomfortable but normal deleveraging,” according to New York Times correspondent Tony Romm.
Specifically, Bessent said about the swings in the bond market: “I believe there is nothing systemic about this,” describing it as “uncomfortable but normal deleveraging”
— tony romm (@TonyRomm) April 9, 2025