US advocates for a more balanced trade relationship with China

Scott Bessent, U.S. Treasury Secretary, emphasized the need for a more balanced trade relationship with China, citing excessive American dependence on imports. Speaking at a gala in New York, he described U.S.-China relations as crucial and highlighted the genuine friendship between Presidents Trump and Xi Jinping. Bessent argued that both nations must adjust their economic dependencies to strengthen their economies. Chinese Ambassador Xie Feng echoed the importance of reciprocity, warning against confrontation. These remarks come amid ongoing trade tensions, with a fragile truce set to expire soon. Trump is expected to meet Xi again at the APEC summit, focusing on trade issues.