U.S. Maintains Tough China Stance Despite Market Volatility, Bessent Declares
America's China policy holds firm through financial turbulence.
Unwavering Position
The United States refuses to soften its approach toward China regardless of market fluctuations. Economic pressures and trading swings fail to shift the strategic stance. Policy makers maintain their course despite financial sector concerns.
Market Reactions Ignored
Wall Street's nervous ticks and Beijing's counter-moves don't influence Washington's calculus. Investment flows and currency movements take a backseat to geopolitical priorities. The administration treats market volatility as background noise in great power competition.
Strategic Consistency
Bessent confirms what traders hate hearing—politics trumps profits in international relations. Financial analysts watch helplessly as their carefully constructed risk models get shredded by uncompromising diplomacy. Another reminder that when nations clash, portfolio managers become collateral damage in a game they don't control.
Longer tariff pause for China on the table
The Treasury Secretary also revealed that the administration is considering a longer break from the high tariffs on Chinese goods if Beijing agrees to drop its planned tighter limits on critical rare earth materials.
Starting from earlier this year, the U.S. and China have implemented successive 90-day suspensions of import tariffs that had reached as high as 145%. Another deadline is approaching in November. The Trump administration is now attempting to block China’s proposed strict export restrictions on rare earth elements through a dual strategy which is providing incentives if China drops the measure and imposing severe consequences if it moves forward with the restrictions.
“Is it possible that we could go to a longer roll in return? Perhaps. But all that’s going to be negotiated in the coming weeks,” Bessent said Wednesday at a press conference in Washington.
Presidential meeting still expected
As Cryptopolitan reported, Trump said there was no reason to meet Xi. However, Bessent said Trump “is a go” on meeting Xi later this month in South Korea, as far as he knows. He added there is a “very good chance” he will travel to Asia before Trump and meet with his Chinese counterpart, Vice Premier He Lifeng.
Bessent said he expected trade announcements to be made during Trump’s Asia tour. The president is expected to attend a summit with Association of Southeast Asian Nations in Malaysia before going on to Japan and South Korea, which will be hosting the yearly Asia-Pacific Economic Cooperation leaders meeting.
The U.S. is “about to finish up” negotiations with South Korea, Bessent added. Those talks have lately revolved around the outlines of a giant investment program. U.S.-Canada talks are “back on track,” Bessent also said. He also indicated progress with India.
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