US Treasury chief slams ‘unreliable' China at House hearing on Trump trade policy
'China currently has the most unbalanced economy in the history of the world,' Bessent, a former hedge fund manager, told the powerful House Ways and Means Committee.
'They cannot be allowed to export their way back to prosperity, not only for working Americans but for working citizens around the world.'
Noting his return hours earlier from two days of negotiating with China in London, Bessent said
this week's bilateral agreement offered Beijing a chance to become a more balanced economic player.
The deal could also help China boost its domestic consumption rather than extend a long-standing pattern of excessive production distorting the global economy, according to the Treasury secretary.
But Bessent urged vigilance. 'China has proven an unreliable partner,' he testified before adding that 'we will see' if it is more reliable this time.
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