Bessent: Chinese told us Biden Admin chose not to enforce excellent trade agreement; China Shock gut

Bessent: Biden Admin chose not to enforce excellent trade agreement, Chinese delegation told us they just ignored their obligations

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Sec Scott Bessent: “We had an excellent trade agreement with China — and the Biden Administration chose not to enforce it. The Chinese delegation basically told us that once President Biden came into office, they just ignored their obligations.”

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Bessent: China Shock gutted our manufacturing sector, going to do a strategic decoupling

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Sec Scott Bessent: “There’s something called the China Shock which has gutted our manufacturing sector… Nobody wants to do a generalized decoupling but we are going to do a strategic decoupling because we realized during Covid that efficient supply chains were not secure supply chains.”

Bessent: we are deficit country, historically, deficit country has a better negotiating position

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Sec Scott Bessent: “I had seen what’s going on in the Chinese economy. We can see what’s going on with the shipments to the U.S. — and, again, we are the deficit country, and historically, the deficit country has a better negotiating position.”

Bessent: 90 day pause on reciprocal tariffs. Both sides de-escalated by 115%, mechanism to meet with Chinese again

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Sec Scott Bessent: “What we have is a 90 day pause on the reciprocal tariffs. Both sides de-escalated by 115%… Over the next 90 days, we have a mechanism to meet with the Chinese trade delegation again.”

Bessent: Chinese told us Biden Admin chose not to enforce excellent trade agreement; China Shock gutted manufacturing

Key Points

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Bessent: Biden Admin chose not to enforce excellent trade agreement, Chinese delegation told us they just ignored their obligations

<a href=“https://www

com/HygoNewsUSA/videos/668433596049807” rel=“nofollow”>https://www
com/HygoNewsUSA/videos/668433596049807

Sec Scott Bessent: “We had an excellent trade agreement with China — and the Biden Administration chose not to enforce it

The Chinese delegation basically told us that once President Biden came into office, they just ignored their obligations