US Treasury Secretary criticizes China’s export model, supports Trump’s tariffs for stronger collaboration and manufacturing.

In a recent development, US Treasury Secretary Scott Bessent has raised concerns about China’s export-driven economic model, labeling it as unsustainable and detrimental to both China and the global economy. Bessent went on to defend President Trump’s tariffs, arguing that they are essential to encourage more profound collaboration and rectify policy decisions that have negatively impacted US manufacturing. This criticism comes amid escalating trade tensions between the US and China, with tariffs being a key strategy employed by the Trump administration to address what it perceives as unfair trade practices. Bessent’s remarks highlight the growing rift between the two economic powerhouses and the challenges they face in finding common ground on trade policies. The US has been vocal about its concerns regarding intellectual property theft, market access restrictions, and state subsidies in China, while China has retaliated with tariffs of its own. The ongoing trade dispute between the two countries has had ripple effects across the global economy, leading to uncertainty and volatility in financial markets. As the situation continues to evolve, the international community is closely watching to see how the US-China trade war will impact global trade dynamics and economic growth.

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