First, there must be a reduction of the high tariffs. 145 and 125 percent is not sustainable, says Bessent.
He says that the tariffs now are hard on the Chinese economy and that the US goal is to get a "fair trade" with China. Bessent also refers to the agreement China and the US concluded in 2020 during President Donald Trump's previous term and says that they will push for China to respect and live up to it.
Trump has introduced tariffs of 145 percent against China which has responded with tariffs of 125 percent.
