U.S. Treasury's Tariff Transition: Confidence Amid Challenges

U.S. Treasury Secretary Scott Bessent expressed confidence that Chinese manufacturers would bear the cost of U.S. tariffs, avoiding price increases. He noted the U.S. is transitioning its tariff policies with Canada and Mexico. Bessent criticized China's export-driven business model on Fox News.

U.S. Treasury Secretary Scott Bessent has conveyed confidence that Chinese manufacturers will absorb the impact of newly-imposed U.S. tariffs. Speaking on Fox News, he emphasized that these tariffs would not lead to price hikes.

Bessent critiqued China's relentless focus on exports, stating it was an 'unacceptable' business strategy.

Regarding Canada and Mexico, Bessent mentioned that the U.S. is currently in a transition phase concerning its tariff policies with these countries.

(With inputs from agencies.)