The US Treasury Secretary Scott Bessent stated that “A major agreement could be reached at some point” regarding the ongoing tax tensions with China.

Scott Bessent emphasized that the US and Chinese economies do not have to be disconnected from each other.

Speaking to Bloomberg TV, Bessent said, “A major agreement could be reached at some point,” and used the expressions “we do not have to separate, but that possibility exists.” Pointing out that reaching an agreement with China would be more difficult compared to other countries, Bessent said, “Because China is both our biggest economic rival 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 figures are significant and I do not think anyone wants these levels to be permanent.” Background: Tensions between the US and China continue due to the trade war initiated by Trump. While reciprocal tariffs are being imposed, temporary exemptions have been announced for some products, but both sides are working on new sanctions.