Sec. Bessent says it's 'up to China to de-escalate' trade war, not worried about empty shelves
Treasury Secretary Scott Bessent in various TV hits Monday that it's "up to China to de-escalate" the trade war.
Bessent also said that "all aspects of government are in contact with China," even as Beijing continues to deny there are any tariff talks between the two governments.
"So, they, you know, all aspects of government are in contact with China. And in terms of trade negotiations, we'll see where this goes. But as I've repeatedly said that I believe that it's up to China to de-escalate because they sell five times more to us than we sell to them. And so, these 125%, 145% tariffs are unsustainable," Bessent said on CNBC
On Fox News, Bessent was asked whether he'd call his Chinese counterpart. Bessent said, "maybe they'll call me one day."
He later said that he thinks India will be the first country to strike a deal.
"So, and as I mentioned, I would guess that India would be one of the first trade deals we would sign. So, watch this space," Bessent said on CNBC.
When asked on Fox News whether he was worried about empty shelves in stores across the U.S., Bessent said that he is "not at present," adding he's confident that retailers pre-ordered stock.

"Not at present. We have great retailers, I assume they pre-ordered. I think we'll see some elasticity. I think we'll see replacement and the we'll see how quickly the Chinese want to de-escalate," Bessent said.
--ABC News' Michelle Stoddart








