Iryna Nesterova18:20, 09.04.25
The United States Treasury Secretary said that imposing 84% tariffs in retaliation was a failure.
US Treasury Secretary Scott Bessant called China’s imposition of tariffs on 84% of US goods a “loss.” He also accused China of violating international trade rules on Fox News .
“I can tell you that this escalation is a lose-lose for them, that they have some very smart economists, academics, technocrats in their bureaucracy, and they will tell the leadership that we don’t have an advantage here. They are a surplus country, their exports to the US are five times our exports to China. So they can raise their tariffs. But what’s the point,” Bessent said.
The US Treasury Secretary also stated that China does not agree to negotiations and does not comply with international trade rules.
“I think it’s unfortunate that the Chinese don’t really want to come and negotiate because they are the worst violators in the international trading system. They have the most unbalanced economy in the history of the modern world,” Bessent said.
(C)UNIAN 2025
I notice he never mentioned the export ban on rare Earth metals to the US, and how that will disrupt US industry.
Trump blinked, all tariffs, except for China suspended. The penguins won!
I think that there are a LOT of people on this planet that will refuse to buy anything American made or visit us as tourists. The true cost of Trump’s insanity can only be guessed. This blatant fool sure has no inkling.
It appears that countries have started to dump US treasury bonds. If that happens, then the dollar will be on the same level as the ruble.
Believe it or not, but I will avoid anything American … stocks, bonds, or whatever. The markets demand stability and reliability, and the Trump administration has just shoved those into the furnace.
It was the Japanese who dumped the bonds, and from what I read, they hold the most US treasury bonds, so the US will need to reign in the bs if they can.