Bessent Had the Perfect Response to China Raising Tariffs on U.S. Goods
China said it is raising tariffs on U.S. imports from 34 percent to 84 percent starting Thursday, an announcement that came hours after President Trump’s tariffs went into effect.
“If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end,” the Ministry of Commerce wrote in a document, reports USA Today.
The latest tariffs on the U.S.’s trading partners includes a 104 percent tax on Chinese goods. . .
Treasury Secretary Scott Bessent called the escalation a “loser” for China.
“I think it’s unfortunate that the Chinese actually don’t want to come and negotiate because they are the worst offenders in the international trading system,” he said. “And I can tell you that this escalation is a loser for them.”
BESSENT: “This escalation is a loser for [China] … They are the surplus country. Their exports to the U.S. are 5x our exports to China. So they can raise their tariffs, but so what?”pic.twitter.com/6WiXZrFBTN
— Chief Nerd (@TheChiefNerd) April 9, 2025
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