US Treasury Secretary Scott Bessent on President Donald Trump’s role in the war against Israel and China’s increasing aggression amid trade tensions.
In its sharpest response yet to recent US trade actions, China said on Monday it “resolutely rejects” Washington’s new restrictions and urged the Trump administration to follow through on commitments made by the two leaders in previous phone calls.
“China firmly rejects the recent US restrictions and sanctions against China and will do whatever is necessary to protect its legitimate rights and interests,” the Chinese Foreign Ministry wrote on X.
TRUMP THREATENS ‘HUGE’ CHINA TARIFFS, SEES ‘NO REASON’ TO MEET XI
Trump says Xi Jinping, the Chinese president, knows where he stands on tariffs. (Ton Molina/Bloomberg via Getty Images/Getty Images)
‘Threatening high tariffs is not the right way to deal with this China. The US must correct its approach and act on the common understandings reached by the two presidents during their telephone conversations,” the statement said.
Tensions increased last week after China said Thursday it would expand export controls on rare earth metals. Relations took another anxious turn when President Donald Trump outlined its countermeasures against the world’s second-largest economy a day later.
The ties between the world’s two largest economies sent markets tumbling on Friday and added new pressure to an already fragile relationship.
TRUMP SAYS ‘Don’t Worry About China’ After Beijing Responds to 100% Tariff Threat
Treasury Secretary Scott Bessent said he expects the meeting between Trump and Xi to take place later this month. (Andrew Harnik/Getty Images/Getty Images)
He also said more discussions are expected and a meeting between Trump and the Chinese leader Xi Jinping in South Korea at the end of the month is still on schedule.
However, it is unclear how Bessent’s optimistic assessment of US-China communications fits with Beijing’s belligerent tone in its latest statement.
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President Donald Trump has previously said he does not want to enter into a trade war with China. (Win McNamee/Getty Images/Getty Images)
“We have de-escalated substantially,” Bessent said during an interview on “Morning with Maria.”
“The 100% tariff does not need to be implemented,” he said, adding that the Trump administration will not implement it until November 1.
“Despite this announcement last week, the relationship is good. The lines of communication are open again, so we’ll see where it goes.”
