Washington - (Saba):
US Treasury Secretary Scott Besant announced that the United States does not seek to decouple its economy from China, but rather intends to mitigate the alleged risks emanating from it.
CBS News quoted Besant as saying, commenting on the economic and trade relations between Washington and Beijing: "What we are seeking is to mitigate the risks. We don't want decoupling, but we need to mitigate them."
Besant confirmed that this includes semiconductors, pharmaceuticals, and other commodities, as well as rare earth and base metals.
The US Treasury Secretary added that he expects a quick conversation between US President Donald Trump and Chinese President Xi Jinping to discuss relations between the two countries.
US President Donald Trump said last Friday that China had "totally violated" the tariff agreement signed with Washington.
Trump wrote on his social media platform, Truth Social: "I made a quick deal with China to bail them out of what I thought would be a very bad situation, and I didn't want to see that happen. Thanks to this deal, things settled down quickly, and China went back to business as usual. Everyone was happy! That's the good news!!!"
He continued: "The bad news is that China, which may not be surprising to some, completely violated their agreement with us. That's all there is to it," Trump said, without providing further details.
| more of (International) |