On the 15th, US Treasury Secretary Bessent strongly criticized China, accusing China of attempting to undermine the global economy by implementing a new round of restrictions on rare earth exports.
In an exclusive interview with the UK's Financial Times, he said: “This shows just how weak the Chinese economy is—they want to drag other countries down with them.”
He stated: “But as the world’s largest supplier, if they want to slow the pace of the global economy, the one who will suffer most in the end will be China itself.”
He also pointed out that China’s new regulatory measures indicate that its own economy is facing problems.
He said: “They are in a recession/depression and are trying to export their measures to get out of trouble.”
Bessent’s latest remarks have once again heightened tensions in what had been a slightly eased situation between China and the US.
On the 13th, in an interview with Fox Business News, he had pointed out that US-China relations had “substantially cooled” but emphasized that communication had resumed.
He said that meetings between the two countries’ leaders could still occur as scheduled. Trump still plans to meet with Xi Jinping in South Korea.