Bloomberg Podcasts
@bloombergpodcasts·503K subscribers·32.4K videos
Bessent Says There's No Offer to Cut Tariffs on China
Posted
April 23, 2025
Views
11,548
Likes
127
Comments
74
Engagement
April 23, 2025
11,548
127
74
1.74%
Every word spoken in this episode is indexed. Type any phrase to jump straight to the moment it was said.
Type any word or phrase that may have been spoken. Click a result to seek the player to that exact moment.
Try a name, a topic, or a quoted line
See what was published immediately before and after this episode.
3:15Now PlayingTreasury Secretary Scott Bessent said that President Donald Trump hasn’t offered to take down US tariffs on China on a unilateral basis.
Asked if there was no unilateral offer from the president to de-escalate, Bessent said “not at all.” He was answering reporters’ questions Wednesday after a keynote speech at an Institute of International Finance event in Washington. “As I’ve said many times, I don’t think either side believes that the current tariff levels are sustainable, so I would not be surprised if they went down in a mutual way.”
Trump on Tuesday had said that US tariffs “will come down substantially but it won’t be zero,” and that he didn’t see the need to “play hardball” with Chinese leader Xi Jinping.
Bessent said that the Trump administration is looking at multiple factors with regard to China beyond just tariffs — including non-tariff barriers and government subsidies. He also said that the strongest relationship between Washington and Beijing is at the top, and that there was no timeframe for engagement. He said that a full rebalancing of trade might take two to three years.
Trump said separately on Wednesday that the US is going to have a fair deal with China.
The Treasury chief also said that the US and India are “very close” on a trade agreement. He reiterated that a satisfactory arrangement doesn’t mean an actual trade document — signaling, as he has before, that initial deals with trading partners will be a broad framework rather than a detailed trade agreement.
Bloomberg's Mike McKee reports.
--------
Watch Bloomberg Radio LIVE on YouTube
Weekdays 7am-6pm ET
Follow us on X
Subscribe to our Podcasts:
Bloomberg Daybreak
Bloomberg Surveillance
Bloomberg Intelligence
Balance of Power
Bloomberg Businessweek
Listen on Apple CarPlay and Android Auto with the Bloomberg Business app:
Apple CarPlay
Android Auto
Visit our YouTube channels:
Bloomberg Podcasts
Bloomberg Television
Bloomberg Originals
Sentinel Indexing in Progress
Metadata and chapters are available. Claim extraction for this episode is pending.
All video content is delivered via YouTube embedded players in accordance with the YouTube Terms of Service. Sentinel provides research tools that promote discovery and accountability across political media.
