US Treasury's Bessent says London trade agreement will help stabilize US-China relationship

WASHINGTON, June 11 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Wednesday that the framework agreement reached with China in London to implement last month's tariff-reducing trade deal to ease bilateral tariffs will help stabilize the U.S.-China economic relationship.

Bessent told a U.S. House of Representatives Ways and Means Committee hearing that China needed to deal with domestic problems including a protracted real estate crisis and increase consumer spending and should not be allowed to export its way back to prosperity.