Treasury secretary Scott Bessent responds to 84% prices for American products, the state of the Chinese economy and a potential safeguard plan for American companies that have apparently “closed” in the light of prices.
Treasury secretary Scott Bessent On Wednesday, the prices for reprisal from China as a “losing” move in China, telling Fox Business that the proportionality of the country’s current trade with the United States is much worse.
“It is regrettable that the Chinese do not want to come and negotiate … They have the most unbalanced economy in the history of the modern world, and I can tell you that this escalation is a loser for them …”, he said the “morning with Maria”.
“They are the surplus country,” he continued.
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The secretary of the Treasury Scott Bessent castigated the price of reprisals of China, the reprisal rate of China “Mornings with Maria”. (Anna Moneymaker / Getty Images)
“Their exports to the United States are our exports to China five times. They can increase their prices, but then what?”
China has increased prices On American imports of 34% to 84% in response to President Donald Trump who hiked prices against the country 104% at midnight on Wednesday, Chinese officials promising to fight “until the end of the current trade war.
US President Donald Trump attends a bilateral meeting with Chinese President Xi Jinping at the G20 leaders’ summit in Osaka, Japan on June 29, 2019. China responded to Trump’s latest rates by sticking to an additional 50% tariff on American imports (Reuters / Kevin Lamarque / Photo File / Reuters)
The new price hike is expected to take effect Thursday, according to a statement on Wednesday from China.
Bessent also put pressure on the American opponent to take measures to stop the fentanyl flow in the United States, a problem that Trump has highlighted several times throughout the trade war during his second term.
“The distribution of drugs in China is liable to death. Why don’t they apply the same standards to people who export these chemicals to the United States?” Asked to be.
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The host of “earning money”, Charles Payne, analyzes the reaction of the market to the evolution of new prices.