U.S. Treasury Secretary Discusses Trade and Economic Rebalancing with China

U.S. Treasury Secretary Scott Bessent expressed optimism about U.S.-China trade relations, stating they're in a 'good place.' He highlighted the unsustainable imbalance in China's economy and planned discussions on economic rebalancing. Additionally, Bessent mentioned talks about China pausing oil purchases from Russia and Iran temporarily.

In a recent interview with Fox Business, U.S. Treasury Secretary Scott Bessent conveyed positive sentiments regarding trade relations with China, labeling them as currently being in a 'good place.'

Bessent emphasized that the focus will now shift towards addressing the economic imbalances within China, which he referred to as the most 'imbalanced' in history.

Further discussions with Chinese officials are slated for next week, with key topics including the potential benefits of China temporarily halting its oil purchases from Russia and Iran.

(With inputs from agencies.)