US Treasury chief holds out hope for China tariff deal, warns duties 'not a joke'

ReutersApr 14, 2025 8:59 PM

WASHINGTON, April 14 (Reuters) - U.S. Treasury Secretary Scott Bessent on Monday chided China's commerce minister for calling President Donald Trump's tariffs a "joke" but said he still had hope for a major trade deal with Beijing, adding it would require a formula far different from trade and currency deals of the past.

Bessent, speaking to Bloomberg Television during a visit to Argentina, said any U.S. China negotiations would have to come from "the top," involving Trump and Chinese president Xi Jinping.

"These are not a joke. I mean these are big numbers," Bessent said. "I think no one thinks they're sustainable, wants them to remain here, but it's far from a joke."

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