On the 10th, U.S. Treasury Secretary Bessent spoke about China-U.S. relations, saying that the U.S. does not want to decouple from China but needs to reduce risks.
While attending a meeting in São Paulo, Brazil, Bessent stated that China-U.S. relations are currently in a very comfortable state, that relations between the two countries can be productive, and that China is welcome as a competitor as long as the competition is fair. Bessent said the U.S. is working hard to “regain sovereignty” in strategic industries such as critical minerals, semiconductors, and pharmaceuticals. China and the U.S. will always be competitors, but he believes that competition can lead to improvement and prevent stagnation.
Bessent noted that in the long run, China must restructure its economy, and that the world cannot tolerate China continuously maintaining a trade surplus of $1 trillion (3.92 trillion ringgit), stating it is impossible. Bessent said he is preparing to meet with Chinese Vice Premier He Lifeng in the coming weeks to pave the way for President Trump's visit to China in April.