🔹 Treasury Secretary Bessent says “So what?” as Beijing retaliates against Trump’s sweeping 104% tariffs
Etawah Today | International Desk – The trade war between the world’s two largest economies escalated sharply on Wednesday, with the US brushing off China’s latest retaliatory move — an 84% tariff hike on American goods — following President Donald Trump’s massive 104% tariff imposition on Chinese imports.
In a bold statement on Fox Business, US Treasury Secretary Scott Bessent dismissed the impact of China’s new tariffs, saying, “So what?” He emphasized that the US has more leverage in the trade battle, citing the imbalance in exports between the two countries.
“They’re the surplus country… Their exports to the US are five times our exports to China. So they can raise their tariffs. But so what?” Bessent said, branding China as the “worst offenders in the international trading system.”
Despite the retaliatory measures, Bessent maintained that no one wins in a trade war, but warned that the consequences for China would be far more severe due to their export-heavy economy.
🔹 China Hits Back with Tariffs, WTO Complaint, and Blacklisting
China’s State Council Tariff Commission responded swiftly to Trump’s 104% tariff order by:
- Increasing tariffs on US goods from 34% to 84%
- Filing a formal complaint with the World Trade Organization (WTO)
- Imposing new restrictions on 12 American companies
- Adding six firms to its “unreliable entity” list
In a strongly-worded statement, the commission said the US move was “a mistake upon mistake”, accusing Washington of damaging the global trading system and infringing on China’s rights.
🔹 Trump Urges Global Businesses to Shift to the US
Amid the standoff, President Trump took to his Truth Social platform to encourage international businesses to relocate operations to the US, promoting:
- Zero tariffs
- Quick energy hookups
- No environmental delays
“DON’T WAIT, DO IT NOW!” he wrote, pitching the US as the new global manufacturing hub.
🔹 Personal Diplomacy Still in Play?
Despite the bitter economic battle, Bessent noted that Trump and Chinese President Xi Jinping still maintain a “very good personal relationship.” He suggested that the two countries could “move together” if the US focused more on manufacturing and China shifted towards consumption.
