Opportunity for big US-China trade deal, says Bessent
Summary
America's Treasury Secretary, Scott Bessent, said there might be a big trade deal between the United States and China. This comment came while there's a trade dispute between the two countries, with higher costs on goods coming in from both sides.Key Facts
- Scott Bessent is America's Treasury Secretary.
- Bessent said that there could be a big trade deal between the United States and China.
- This comes at a time when these two countries are having a trade dispute.
- A trade dispute means the countries are charging each other more to bring goods in.
- The United States has put up to 145% extra cost on goods from China.
- In return, China has put 125% extra cost on goods from the United States.
- Bessent expressed hopes that the current situation, the trade dispute, would calm down.
- He also mentioned that the World Bank and the International Monetary Fund should focus more on making economies stable and helping them grow.
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