People are seen in Shanghai today with the city's financial district seen in the background. Hector Retamal/AFP/Getty Images
Treasury Secretary Scott Bessent is advocating for a unified trade strategy with allies in response to what he described as China’s increasingly aggressive trade policies. Speaking in Washington, he laid out a vision for greater economic coordination among U.S. partners to present a united front.
Allies Must Form Economic Consensus, Says Bessent
unified trade strategy with allies
During a Q&A session at the American Bankers Association summit, Bessent highlighted the need for tighter economic alignment with traditional U.S. allies.
“Our allies have long stood by us militarily,” he said. “Now it’s time to work toward shared economic goals.”
Bessent expressed confidence that mutual trade agreements could be reached, allowing the U.S. and its partners to challenge China’s behavior collectively rather than individually.
Bessent Warns Against Economic Ties With China
The Treasury Secretary issued a sharp warning to countries that continue deepening their trade relationships with Beijing.
“China is the only major player escalating tensions in the global trade arena,” he cautioned. “Aligning with them would only hurt your own economy.”
His remarks reflect a broader strategy by the U.S. government to discourage global dependence on China’s economic influence.
European Leaders Echo U.S. Sentiment
Meanwhile, European leaders are taking note. Spanish Prime Minister Pedro Sánchez has urged the European Union to revisit its stance on China, particularly in the wake of increased U.S. tariffs on multiple countries.
Reports indicate that global leaders are beginning to align more closely with Washington’s approach as they weigh long-term trade and security concerns.
