Donald Trump’s Secretary of Treasury, Mr. Scott Bessent, is lost in a delusion. Bessent’s recent public comments on tariffs and China illustrate his detachment from reality. He emphasizes that using high, targeted tariffs as leverage — framing them as necessary to counter what he describes as unfair Chinese trade practices — have not derailed a working trade “equilibrium” with Beijing. He has defended steep sector‑specific tariffs (steel, EVs, etc.) on China as a response to “dumping” and industrial overcapacity, pointing out that not only the US, but also Canada and the EU have at times adopted similar high tariffs on Chinese steel and related products.
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