Posted on 05/06/2025 5:47:25 PM PDT by PJ-Comix
Treasury Secretary Scott Bessent and U.S. trade representative Jamieson Greer will meet with their Chinese counterparts in Switzerland this weekend to discuss economic and trade matters, their offices announced Tuesday.
“We have shared interests,” Bessent said later on Fox News’ “Ingraham Angle.” The current tariff war “isn’t sustainable,” said Bessent, “especially on the Chinese side. And, you know, 145 percent [tariffs], 125 percent, is the equivalent of an embargo. We don’t want to decouple, what we want is fair trade.”
Bessent and Greer will meet with their Chinese counterparts on both Saturday and Sunday, the Treasury secretary said.
(Excerpt) Read more at cnbc.com ...
.... "Mr Bessent told a House of Representatives committee: 'We do not have a revenue problem: we have a spending problem. We have to bring this spending under control'.”
US debt on ‘unsustainable’ path, admits Scott Bessent Telegraph UK, via Yahoo Finance, 6 May 2025
The Trump administration is facing many messes made by Democrats and RINOs, and speaking refreshingly plainly.
“No more gloating from liberals about how China will definitely refuse to deal on tariffs.”
On any issue they compromise, they’ll make it up in some other fashion.
Talking with them is not progress.
We want decouple.
Brilliant Bessent, what blessing
- what a blessing -
What I have difficulty to understand is why don’t the Chinese open their market to our products and we in turn would do the same. I don’t think Chinese use or consume as many of our products as we have used theirs anyway so it would be of their benefit to begin with. I am quite sure there are some bright minds on Free Republic who could enlighten me and thank you in advance for doing so.
At the very least, the CCP will patiently make adjustments to decoupling from America.
They export consumer goods copied from Western models that are sold in Amazon, Walmart... many also sell small stuff through Temu and other Chinese outlets using the now repealed “di minimis” policy where things declared as under $800 wouldn’t have tariff. It started in 1938, the limit increased in 1978 by Carter, 2000 by Clinton and 2016 by Obama.
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