US Treasury Secretary Scott Bessent stated this Wednesday (3) that, after a turbulent period with China, the relationship with the country is now in a “quite stable” situation.
In testimony to the US Senate, Bessent said the Trump administration will monitor Boeing’s fulfillment of its commitment to China during President Xi Jinping’s visit to the US at the end of the year. “We will also see if China commits to making larger purchases from Boeing,” he emphasized. Beijing agreed to order 200 Boeing jets during Trump’s visit to the country in early May.
The secretary also commented that he is focused on the legacy of Chinese “predatory prices” in minerals and that he hopes that the Asian power will increasingly open its markets.
According to him, the US has all the elements for a very strong economy and that reducing corporate taxes increases production capacity. “The corporate tax cut is not a gift,” he added.
