Posted on 04/08/2025 9:43:48 AM PDT by DallasBiff
Treasury Secretary Scott Bessent said Tuesday the U.S. holds a substantial advantage over China as the two nations exchange threats in a burgeoning trade war.
“I think it was a big mistake, this Chinese escalation, because they’re playing with a pair of twos,” Bessent said during an interview on CNBC’s “Squawk Box.” “What do we lose by the Chinese raising tariffs on us? We export one-fifth to them of what they export to us, so that is a losing hand for them.”
The comments come a day ahead of the U.S. raising its duties on China and dozens of other nations as part of so-called reciprocal tariffs whose purpose, Bessent said, is to bring trading partners to the negotiating table and jobs back to the U.S.
So far, he said Japan has been at the forefront of countries eager to negotiate, and the White House expects a multitude of others.
(Excerpt) Read more at cnbc.com ...
They have flags "Made In America". Maybe that's my next purchase. Or something "Trump".
Yes, he’s right. The eventual China agreement will change the entire landscape on this subject.
My disagreement is that China has already expanded and upgraded it’s military so it won’t affect that outcome but it might bring it to the forefront.
As President Trump would say, they ain’t got the cards...
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