Bessent Says No Unilateral U.S. Offer to Cut Tariffs on China
Since decades both China and the United States have had tense trade relationships which became largely defined through their extensive use of trade tariffs in economic and international political bargaining. There emerged rumors that the United States might single-handedly lower Chinese import tariffs to mitigate economic stress. The views of economic analyst Kenneth Bessent indicate that such a move to decrease Chinese import tariffs would be unlikely. The Biden administration refuses to cut tariffs alone as it requires equal concessions from China before any negotiations could proceed. The United States adopts this position because their trade policy focuses on both protecting national industries and establishing fair trade relationships while competing on a strategic level.
