US to Rebalance Trade with China, Not Decouple: Treasury Secretary

The United States is not seeking to decouple from China, but rather to rebalance trade relations and reshore critical industries, according to Treasury Secretary Scott Bessent. In a recent interview, Bessent stated, “We don’t want to decouple with China. President Trump actually wants to open up China for business.” This strategy, he explained, is in response to vulnerabilities exposed during the COVID-19 pandemic, which highlighted the dependence on China for essential goods such as medicines and semiconductors. Bessent drew parallels to the UK trade deal, suggesting a similar approach is being taken with China. The goal, he emphasized, is to bring back these strategic industries "as quickly as possible." While the US will continue trading with China, the focus is shifting towards strengthening domestic production capabilities and reducing reliance on foreign suppliers. This strategic shift reflects a growing concern over national security and economic resilience.