US Treasury Secretary Scott Bessent dismissed comments that the Chinese economy has proven more resilient than Donald Trump administration officials predicted.
In an interview with the television channel Fox Newshe listed that China’s industrial production has fallen in the last seven months.
The retreat has been seen since the US announced, on the so-called “Liberation Day”, tariffs against the Asian giant and dozens of other countries.
He also noted that Chinese business with Europe has increased by 10% recently, but based on discounts.
“They [chineses] They are trying to get out of this situation by exporting. And I think what we’ll see is the rest of the world joining us in building the tariff barrier against China,” he said.
Regarding the recent meeting between Trump and Chinese President Xi Jinping, Bessent said he hopes the Chinese will be “more reliable” economic partners from now on.
He cited the negotiation over rare earths and the issue of the sale of fentanyl. While China has committed to stopping the transport of inputs to Canada and Mexico, Bessent pointed out that the American government will strictly monitor compliance with the agreement.
