I don’t need to keep saying it. You all know how I feel about China by now. But thank God I’m not the only one who views China as the global enemy they are.
Speaking at an American Bankers Association event, Treasury Secretary Scott Bessent spoke of the overwhelmingly agreeable response by pretty much every country that President Donald Trump has levied reciprocal tariffs against — all except for China, of course.
China has separated itself from the rest of the world by being the only country, so far, to retaliate against the tariffs. Bessent said that China, ironically, is spelling their own doom because no matter what the circumstances are, they just keep producing product.
That might seem like a good idea. But if there’s no one buying the product, or the product is tariffed to the hilt, then there’s much less of a chance of turning a profit. It doesn’t take a business expert to know that. It’s simple supply and demand theory.
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“In terms of escalation, unfortunately, the biggest offender in the global trading system is China,” Bessent said. “They’re the only country whose escalated.”
Bessent also mentioned the possible outcome for countries that question whether they should negotiate with the U.S. or whether they should side with China and the CCP.
“I can tell the rest of the world that, I’m not sure whether it was the prime minister or the economic minister in Spain made some comments this morning, ‘Oh well, maybe we should align ourselves more with China,’” Bessent continued. “That would be cutting your own throat, because I can tell you that these Chinese exports that the U.S. tariff wall is going to keep out, that China for all of you who can remember that Disney movie of the brooms carrying the buckets of water; that is the Chinese business model.”
For Bessent’s full comments, watch below:
Treasury Secretary Bessent (@SecScottBessent): "In terms of escalation, unfortunately, the biggest offender in the global trading system is China. They're the only country whose escalated." pic.twitter.com/EjImQ6WktI
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