US-China Tariffs: Bessent Signals Firm Stand on Trade Rates

US Treasury Secretary Scott Bessent recently weighed in on ongoing trade tensions between the US and China, highlighting their impact on global markets. His comments suggest that current tariff levels are likely a floor rather than an opening for reductions. Notably, Bessent emphasized the importance of the Phase One Trade Deal as a framework, while also indicating potential for higher tariffs to be re-introduced if necessary. This stance reflects the persistent tension in US-China trade relations and signals the US’ firm commitment to navigating these complex dynamics.