Treasury Secretary Scott Bessent's recent press briefing raised questions about ongoing trade negotiations between the U.S. and China, particularly regarding tariffs. During the session, he avoided directly confirming whether President Trump and Chinese President Xi Jinping had communicated. While Bessent suggested that tariffs imposed by the U.S. could significantly harm China's job marketâwith estimates of millions of jobs at riskâhe refrained from providing specific details on discussions about these tariffs. This ambiguity highlights the complexity of the trade relationship as both nations navigate conflicting narratives.
We're not going to talk about who's talking to whom, but I think that over time we will see that the Chinese tariffs are unsustainable for China.
I've seen some very large numbers...if these numbers stay on, Chinese could lose 10 million jobs very quickly and even if there is a drop and the tariffs, that they could lose five million jobs.
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