"We saw some very poor [gross domestic product] numbers out of China yesterday. We're now seeing very large estimates of job growth loss from 5 to 10 million jobs. So the Chinese economy is slowing down substantially here. So, what we will first want to see is a de-escalation," Bessent told FOX Business’ Maria Bartiromo on "Mornings with Maria."
"They are the most unbalanced, imbalanced economy in the history of the world," he added, "and they need to rebalance."
China’s 125% tariff on U.S. imports and America’s 145% tariff on Chinese imports "are not sustainable on the Chinese side," according to the secretary who has largely backed President Donald Trump’s April 2 executive order which placed reciprocal tariffs on a host of various countries, accusing them of unfair trade practices against the U.S.
https://www.foxbusiness.com/media/treasury-secretary-bessent-signals-us-advantage-tariff-battle-chinas-economy-crumbles
