US has comfortable relationship with China, Treasury’s Bessent says

HUNT VALLEY, Md. (TNND) — Treasury Secretary Scott Bessent said Tuesday the U.S. has a very “comfortable” relationship with China.

He explained during an interview at a business conference in Brazil that Washington and Beijing can have a productive relationship as rivals.

“The U.S.-China relationship now is in a very comfortable place. We are going to be rivals, but we want the rivalry to be fair,” Bessent said.

The Trump administration has spent the past year setting and removing tariffs for China, and President Xi Jinping has responded with trade barriers of his own. Bessent said his boss is looking to “de-risk” rather than “decouple” from the Asian superpower, which has some control over industries the U.S. is interested in.

“Whether it’s critical minerals, whether it’s semiconductors, medicines that the U.S., as we saw during COVID, very dependent on China for medical supplies,” the secretary explained.

“So I think we can have a very productive relationship, but we’re always going to be competitors, and I’m of the view that competition makes you better, keeps you from stagnating.”

Trump and Xi had a phone call last week in which the leaders discussed trade, oil and gas, military matters and foreign conflicts, according to the U.S. president. He called the conversation “long and thorough” but “very positive.”

“The relationship with China, and my personal relationship with President Xi, is an extremely good one, and we both realize how important it is to keep it that way,” Trump said in a social media post. “I believe that there will be many positive results achieved over the next three years of my Presidency having to do with President Xi, and the People’s Republic of China!”

Beijing echoed some of Trump’s remarks. Its foreign ministry said in a statement about the phone call that Xi emphasized the importance of the China-U.S. relationship, which he encouraged Trump to help direct.

“China always means what it says and matches its words with actions and results,” the ministry asserted. “If the two sides work in the same direction in the spirit of equality, respect and mutual benefit, we can surely find ways to address each other’s concerns.”

The presidents will meet in Beijing in April. Taiwan, a self-governing island claimed by China, is the most important issue in U.S.-China relations for Xi.

“Taiwan is China’s territory,” the foreign ministry said in its statement. “China must safeguard its own sovereignty and territorial integrity, and will never allow Taiwan to be separate.”

The U.S. has an unofficial relationship with Taiwan but has defended its independence.

Have questions, concerns or tips? Send them to Ray at rjlewis@sbgtv.com.