U.S. Treasury Secretary Scott Bessent has lashed out at China, accusing the Asian powerhouse of trying to “slow down” the global economy amid its trade war with President Donald Trump.
Bessent accused Beijing of overplaying its hand after it announced new restrictions on the export of rare earth metals and minerals, a move widely seen as retaliation for Trump’s severe “reciprocal” tariffs on Chinese goods.
Bessent criticized China for escalating tensions with the U.S. over the rare earth restrictions, which prompted Trump to threaten a new round of 100 percent retaliatory tariffs on Chinese imports, sparking turmoil in global markets once again.
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