Democrats in Washington told Scott Bessent to go hard on China this week as he meets their officials in 0 Friday, members of the House Select Committee on China sent a letter urging Scott, along with Jamieson Greer and Howard Lutnick, to confront Beijing on what they called “structural overproduction.” The Democrats said any future trade deal must include “binding requirements” that force China to roll back massive industrial 1 letter was obtained by 2 started Sunday in Madrid, with Scott and Jamieson facing a Chinese delegation led by He 3 4 and Commerce departments didn’t respond to the 5 the message is clear: Democrats want this issue on the table, front and 6 call for tariffs on China’s overcapacity exports In the letter, lawmakers blamed China’s economic model for flooding global markets.
“The PRC’s historic and destructive use of structural overproduction to drive economic growth comes at an indisputable cost to U. S. industry, employment, and the stability of international markets,” they 7 pointed directly at steel and solar panels as the worst-hit 8 concern isn’t 9 Treasury Secretary Janet Yellen made similar arguments under the Biden administration. What’s different now is that Donald Trump is back in the White House, and Democrats are trying to force this issue into Scott’s hands while he’s face-to-face with Beijing’s trade 10 letter also warned that overproduction doesn’t just hurt the 11 affects allies like Japan and South Korea, who also face waves of low-cost Chinese 12 lawmakers said Scott should work with those partners to build a global 13 also asked the Trump administration to apply a “more balanced” tariff approach, calling out earlier decisions that hit 14 harder than 15 Trump administration has used tariffs as its main economic weapon since 16 duties have been eased, but only when allies made investment pledges or agreed to mutual 17 now want those same tools aimed directly at Beijing’s surplus problem.
Tiktok, tariffs, and pressure over Russian oil also on table The Madrid meetings stretch from September 14 to 18 the Treasury and China’s Commerce Ministry confirmed the agenda includes TikTok, U. S. tariffs, and money laundering networks. Scott’s travel schedule runs from September 12 to 18, with stops in Spain and the 19 TikTok deadline is coming up 20 Wednesday, ByteDance, the China-based parent company, must sell the app or face a ban in the 21 already said he’ll probably extend the deadline, keeping the fate of the app hanging in the air during this round of talks, as Cryptopolitan previously 22 are also in play 23 gave a 90-day delay last month, holding off on a return to triple-digit tariffs between the 24 25 pause runs out on November 26 current tariff setup is already steep: 30% on Chinese imports and 10% on American 27 some sectors, like medical supplies and steel, real rates are even higher.
There’s a second pressure 28 is targeting China for buying Russian 29 Friday, his team revealed a plan to push G7 countries to consider tariffs up to 100% on both China and India unless they cut off Moscow. India’s already been hit with 25% tariffs over the same 30 said during a Fox News interview on Friday that his patience with Vladimir Putin is “running out fast,” and that more actions are coming — including banking sanctions and oil 31 that same interview, Trump mentioned China only 32 praised Xi Jinping’s government for its “quick trials,” but didn’t 33 round of meetings is the latest in a series of 34 talks happened in Geneva, London, and Stockholm.
A direct meeting between Trump and Xi has been discussed by both 35 now, the likely venue is the Asia-Pacific Economic Cooperation summit in South Korea at the end of 36 up to $30,050 in trading rewards when you join Bybit today
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