Treasury Secretary Talks about China’s Role in US Manufacturing

During a recent segment on CNN, Treasury Secretary Scott Bescent addressed President Donald Trump’s aspirations to enhance trade relations with China.

While discussing the challenges faced by small businesses, host Jake Tapper noted that many business owners express support for Trump’s initiative to bring manufacturing back to the US. However, they often feel that such a transition can’t happen overnight—and that certain products just aren’t made domestically.

Bescent responded, “Well, Jake, I think it’s in the works. When we look at the UK trade deal, it gives us some insight into our approach with China. We aren’t looking to completely sever ties. Many small businesses will likely continue to import various goods from China, especially as they deal with lower tariff rates, to expedite the return of crucial industries to the US.”