US Treasury Secretary Scott Bessent recently indicated that Washington anticipated backing from India and its partners amid rising tensions between the US and China.

Bessent stated it was China against the globe, noting that they had incorporated a bazooka into the supply chains and industrial foundation of the whole free world.

Bessent additionally mentioned, China operates as a command-and-control economy. They will neither command nor control us. We will declare our sovereignty through different means.

Bessent elaborated that Washington was already communicating with its allies. We will be meeting with them this week, and I anticipate that we will receive significant global backing from the Europeans, from the Indians, and from the democracies in Asia.

The US Treasury Secretary also cautioned that the rival was taking provocative actions, and while Washington advocated for global peace, China was funding conflict.

Bessent's comments follow US President Donald Trump's declaration of new 100 per cent tariffs on China, set to begin on November 1. In defending his choice, Trump stated that the action was influenced by reports indicating that China intended to broaden its export restrictions to encompass almost all of its products, including rare earth minerals vital to international technology supply chains.

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In a post on Truth Social, Trump criticized Beijing, labeling China's choice a moral disgrace and stated that the nation had adopted an "extraordinarily aggressive" position by issuing a hostile letter globally.

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At present, the US has enforced a 55 percent tariff on products from China. Nonetheless, if put into effect, the new US tariffs would raise total import taxes on Chinese goods to almost 130 percent, nearly reaching the levels declared earlier in April.

China's Ministry of Commerce, in a statement, accused the US of "double standards" and declared that imposing high tariffs is not a constructive way to interact with China. In response, Beijing revealed export restrictions on rare earth minerals and associated technologies, referring to national security.

 

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Following China's response, Trump appeared to ease his position. On October 12 (local time), he posted on Truth Social expressing his desire to assist China and his concern against a depression for their nation.