US Treasury secretary says trade war with China is not ‘sustainable’

https://apnews.com/article/tariffs-trade-taxes-trump-china-bessent-treasury-66668fa26957ece530a250fa8ea19faa

26 comments

  2. >But in a private speech in Washington for JPMorgan Chase, Bessent also cautioned that talks between the United States and China had yet to formally start.

    >…

    >White House press secretary Karoline Leavitt told reporters Tuesday that Trump told her “we’re doing very well” regarding a “potential trade deal with China.”

    They just lie, lie, lie

  5. Probably shouldn’t have started an unsustainable war then.

    This is what happens when you govern by whim.

  6. Would be fun if China puts of “The Great Wall” and ignores the US from now on.

  7. Everything out of this admin is a lie. Don’t fall for it. It’s unsustainable for the US, but China said they don’t care. He also stated it’ll take 3 years to get a deal. The US is on course for a head-on collision with a recession, perhaps even a severe one. What does not help the situation is dementia Don.

  9. is it a good negotiating strategy to publicly announce that your economy is going to implode b4 the other guy’s? asking for a friend

  10. Unfortunately, Besset doesn’t control how the trade war will go. In fact, no one does, not even Trump, because Trump today can’t control what Trump will say tomorrow. So even if Trump and Xi reaches a deal, there is no guarantee it will last

  11. The slash and burn governing style doesn’t really concern itself with sustainability. 

  13. Then why even start this fight if it wasn’t sustainable. You know, MAGA thinks China isn’t needed in this trade relationship. MAGA believes America can produce anything and everything. So what are you going to tell MAGA when medical supplies, clothing, and electronics are gone off the shelf?

  15. I assume Trump is playing “trade war” because he has a bunch of properties that are under water and needs to refinance lower than the going rate.

  16. Then why tr did you start it not just with china but the globe!

  17. Morons followed by idiots followed by liars and morons… phew.

  18. i mean……

    1. 3 weeks ago, tariff was at 54%

    2. 2 weeks ago, tariff increased to 145%

    3. 1 week ago, tariff peaked at 245%

    4. today, tariffs on solar panels are an ADDITIONAL 3,521% (this number is not a typo)

    i asked ChatGPT to extrapolate and it forecast tariffs will go to 65.97 million percent by week 52. if tariff is like a stock, it would totally beat the US market by a significant margin. we should really get the finance bros on Wall Street to offer a tariff ETF. who needs manufacturing jobs when you can get rich by flipping tariffs!

    those MAGA hats that you bought for $55.00 USD last month is gonna be worth $36 million USD by April 1, 2026. no need for Americans to worry about their 401K’s anymore. diamond hands, boys!

  20. Gee, Bessent….didn’t you recently just squawk that China was holding a pair of 2’s? Seems to me they are holding a much stronger hand than Trump at the present time.

    Guy is a fool.

  21. He also advised countries we imposed massive tariffs on:

    >Do not retaliate, sit back, take it in, let’s see how it goes, because, if you retaliate, there will be escalation.

    How fucking stupid and arrogant is that statement? Almost textbook definition of a schoolyard bully.

    *The beatings will continue until moral improves.*

  22. Yeah, no shit. China’s seen this playbook before. In Trump’s first term, he bragged about collecting $75 billion in tariff revenue but it was a net economic loss. Trump had to spend over $28 billion bailing out U.S. farmers hurt by Chinese retaliation, and the broader economy took a hit from disrupted supply chains and higher consumer costs. The guy has no clue wtf he’s doing.

  23. They started a trade war.

    When other parties reach out to to make a deal, they don’t know what they want out of it.

    All while getting crushed by their own trade war.

    The trade war is justified by someone not understanding the difference between a tariff and a trade deficit.

    … and not understanding the difference the difference between a trade deficit and a subsidy.

    (me: thinking…)

    How can I invest in popcorn?

  26. The level of self-inflicted arms the US is doing is mind blowing honestly. What shocks me the most is not Trump who has been a public moron since the 80s but that a majority of elected officials do not care. They are the real de-facto traitors.

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