Bessent urges US, China to ‘de-risk, not decouple’ as Xie points to ‘red lines’
US Treasury Secretary Scott Bessent called for a more balanced trade relationship with China, with the objective to “de-risk, not decouple”, as Chinese ambassador Xie Feng spoke of adhering to “red lines” at an event in New York on Tuesday. “Trade must advance the interests of both parties without diminishing the sovereignty of either,” said Bessent, while emphasising that US-China ties were…
US Treasury Secretary Scott Bessent urged both the United States and China to focus on "de-risking" their trade relationship, rather than "decoupling", at a gala dinner in New York. Chinese Ambassador Xie Feng echoed this sentiment, stating that China would adhere to "red lines" in their relationship. Both emphasized the importance of reciprocity in trade and avoiding diminishing the sovereignty of either nation.
Bessent highlighted the need for the United States to produce more of what it consumes, while China should consume more of what it produces. The two leaders are set to meet for a summit next week, following recent state visits. Washington and Beijing also established a Board of Trade mechanism, identifying non-sensitive goods for potential tariff reductions.
The US aims to address AI competition concerns, with both nations working to establish a direct channel for warning each other of serious incidents involving their AI models.
Written by urgent.news from South China Morning Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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