U.S. Treasury Secretary Criticizes China's Trade Actions

U.S. Treasury Secretary Scott Bessent criticized China's tariff escalation, stating it's a strategic error since the U.S. exports significantly less to China. President Trump will be directly involved in forthcoming trade negotiations, considering EU non-tariff barriers and a potential energy deal involving Japan and South Korea.

U.S. Treasury Secretary Scott Bessent has expressed his disapproval of China's increased tariffs, labeling the move as a significant misstep. In a CNBC interview, Bessent pointed out that the U.S. exports only a fifth of what it imports from China, suggesting the decision may backfire on Beijing.

In upcoming trade negotiations, President Donald Trump is set to play a direct role. Bessent remarked that all topics, including the European Union's non-tariff barriers such as value-added taxes, are open for discussion.

The U.S. is also evaluating potential trade benefits, like an energy deal in Alaska, which Japan and South Korea are interested in funding. Not only could this create more American jobs, it would also help to decrease the trade deficit, Bessent noted.

(With inputs from agencies.)