Impact of Tariffs: China Faces Job Loss, Says U.S. Treasury Secretary

U.S. Treasury Secretary Scott Bessent warned that China might swiftly lose 10 million jobs due to tariffs. He stressed that Chinese tariffs are unsustainable and believed Beijing would realize this over time.

On Tuesday, U.S. Treasury Secretary Scott Bessent issued a stark warning about the potential impact of tariffs on China. He predicted that the country could rapidly lose 10 million jobs as a consequence of these economic measures.

Bessent emphasized that the Chinese government would come to understand that their existing tariff strategy is untenable in the long run. The implications of these economic policies could provoke significant shifts in the Chinese labor market.

The Treasury Secretary's statement highlights growing concerns about the sustained economic pressure facing China and raises questions about the future viability of current trade practices.

(With inputs from agencies.)