U.S. Treasury Secretary’s Remarks on Trade Tariffs
Date: Wednesday
Location: Washington, D.C.
U.S. Treasury Secretary Scott Bessent stated that excessively high tariffs between the U.S. and China need to be reduced before trade negotiations can advance. During a press briefing at the International Monetary Fund and World Bank annual meetings, Bessent emphasized that de-escalation is essential for rebalance in the trading relationship between the two largest economies in the world.
When asked about the potential decrease in the current tariffs—145% on U.S. goods and 125% on Chinese goods—Bessent responded, “I think that has to be because, again, neither side believes that these are sustainable levels.” He further expressed that the situation resembles an embargo and that a breakdown in trade relations is not beneficial for either party.
Comments (3)
Odo Christopher
21:15 - 23/04/2025
Very good
Ifeanyi Emmanuel Ani
19:21 - 23/04/2025
Ok
John Ifunanya Ekwunoh
18:24 - 23/04/2025
https://tradesavi.com/flash-news/us-china-tariffs-need-to-fall-for-trade-talks-to-start-bessent-says/ Things are really getting good as planned as to everything coming to normalcy