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Scott Bessent says it's China's responsibility to 'de-escalate' trade war

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The U.S. has an escalation plan in its 'back pocket' that it doesn't want to have to use, Bessent said.
In an article by Scott Bessent published on Fortune.com, he argues that China bears the responsibility to deescalate the ongoing trade war with the United States. Bessent points out that while the U.S. has taken steps to address trade imbalances, such as imposing tariffs, China has not made sufficient efforts to reform its economic practices, which include forced technology transfers, intellectual property theft, and market access restrictions. He emphasizes that for a resolution to be reached, China must engage in meaningful negotiations and make concessions, particularly in areas that align with international trade norms. Bessent also highlights the potential global economic benefits of resolving the trade tensions, suggesting that a more balanced trade relationship would be advantageous for both countries and the world economy.

Read the Full Fortune Article at:
[ https://fortune.com/article/scott-bessent-china-responsibility-deescalate-trade-war/ ]