US advocates for a more balanced trade relationship with China ahead of leaders' meeting

U.S. Treasury Secretary Scott Bessent called for a more balanced trade relationship with China, emphasizing the need for the U.S. to reduce its dependence on imports. Speaking at a gala in New York, he highlighted the importance of U.S.-China relations and described the bond between Presidents Trump and Xi Jinping as genuine. Bessent argued that both nations should produce and consume more of their own goods to strengthen their economies. Chinese Ambassador Xie Feng echoed the need for reciprocity, warning that cooperation benefits both countries while confrontation does not. These remarks come amid ongoing trade tensions, with a crucial meeting between Trump and Xi planned at the upcoming APEC summit.