U.S. Treasury Secretary Responds To China’s New Tariffs

Bessent spoke about the consequences of this decision.

The U.S. sees no issue with China imposing 84% tariffs on American goods. According to Washington, such a move puts Beijing at a disadvantage.

As reported by RBC-Ukraine, U.S. Treasury Secretary Scott Bessent made this statement during a Fox News broadcast.

The head of the U.S. Treasury described it as unfortunate that China refuses to negotiate tariffs with the U.S. According to him, China is "the worst violator in the international trade system" and has "the most unbalanced economy in modern world history."

"I can say that this escalation is a losing strategy for them. They have very smart economists and academics, technocrats in their bureaucracy, and they will tell the leadership that we don’t have the upper hand. They are an overproducing country, and their exports to the U.S. are five times greater than our exports to China. So they can raise tariffs. But what of it?" he added.

Bessent also clarified that while no one wins in such a trade war, the consequences for China will be "much worse."

China's Tariffs

Yesterday, April 8, the U.S. announced 104% tariffs against China. Washington took this drastic step because Beijing refused to comply with its ultimatum to remove additional tariffs on American imports.

In response, China imposed reciprocal measures today, April 9.

As a result of these decisions, oil prices continue to drop sharply. As of today, Brent crude futures have fallen by 3.8% to $60.4 per barrel.

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