US Treasury chief holds out hope for China tariff deal, warns duties 'not a joke'

U.S. Secretary of the Treasury Scott Bessent meets Argentine President Javier Milei

U.S. Secretary of the Treasury Scott Bessent leaves the Economy Ministry building, days after Argentine President Javier Milei’s administration sealed a new loan deal with the IMF, in Buenos Aires, Argentina April 14, 2025. REUTERS/Agustin Marcarian

Source: REUTERS

U.S. Treasury Secretary Scott Bessent on Monday chided China's commerce minister for calling President Donald Trump's tariffs a "joke" but said he still had hope for a major trade deal with Beijing, adding it would require a formula far different from trade and currency deals of the past.

Bessent, speaking to Bloomberg Television during a visit to Argentina, said any U.S. China negotiations would have to come from "the top," involving Trump and Chinese president Xi Jinping.

"These are not a joke. I mean these are big numbers," Bessent said. "I think no one thinks they're sustainable, wants them to remain here, but it's far from a joke."

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters