US Treasury Secretary criticizes China’s export model, defends Trump’s tariffs for fostering collaboration and addressing policy weaknesses.

US Treasury Secretary Scott Bessent has denounced China’s export-focused economic strategy, labeling it as unsustainable and detrimental to both China and the worldwide economy. In a recent statement, he supported President Trump’s tariffs, arguing that they are essential for encouraging greater cooperation and rectifying policy decisions that have undermined the manufacturing sector in the United States. Bessent’s criticism comes amid escalating trade tensions between the US and China, with both countries imposing tariffs on each other’s goods. The US has accused China of unfair trade practices, including intellectual property theft and forced technology transfers. The Trump administration believes that imposing tariffs on Chinese imports will help level the playing field and protect American jobs. However, critics argue that the tariffs could lead to a full-blown trade war, impacting global economic growth and stability. The ongoing trade dispute has sparked concerns among investors and businesses worldwide, with many fearing the potential repercussions on international trade and supply chains. As the US and China continue to engage in negotiations to resolve their trade differences, the global economy remains on edge, closely monitoring the developments between the two economic powerhouses.

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