U.S. Treasury Secretary Scott Bessent made a statement regarding the ongoing tax tension with China, saying “A major agreement could be reached at some point.”

According to U.S. Treasury Secretary Scott Bessent, it is not necessary for the U.S. and Chinese economies to separate from each other.

Speaking to Bloomberg TV, Bessent stated that “A major agreement could be reached at some point” and used the words “we do not have to diverge but that possibility exists” in his remarks. Highlighting that reaching an agreement with China will be more difficult compared to other countries, Bessent said, “Because China is both our biggest economic competitor and our biggest military adversary.” “THIS IS NOT A JOKE”

Bessent also commented on the high tariffs imposed by the Trump administration, saying “This is not a joke. These numbers are significant and I don’t think anyone wants these levels to be permanent.” Background: Tension continues between the U.S. and China due to the trade war initiated by Trump. While mutual tariffs are being implemented, temporary exemptions have been announced for some products but the parties are working on new sanctions.