U.S. Treasury Secretary Calls for Economic Shift in China Trade

The U.S. Treasury Department seeks a shift in China’s economic focus from export-driven growth to domestic consumption, potentially leading to mutually beneficial trade strategies. This adjustment is expected to bring about a significant U.S.-China deal, with both nations poised to gain from this rebalancing. U.S. Treasury Secretary Scott Bessent stated that clarity on the future of tariffs will be provided by the third quarter, which could pave the way for a more robust economic relationship between the two countries.