NEW YORK—Treasury Secretary Scott Bessent, speaking ahead of U.S.–China talks, called Tuesday for a “more balanced relationship” between the two countries, saying Americans have grown too dependent on imports.
Addressing a gala hosted by the National Committee on U.S.–China Relations at a New York ballroom, Bessent said reducing U.S. reliance on China was necessary for both countries.
“The American economy has grown too dependent on foreign supply, while China has become increasingly reliant on the foreign demand. In other words, the United States must produce more of what we consume, while China must consume more of what it produces,” Bessent said. “Working together, we can strengthen both our economies.”
That stance, Bessent said, “does not reflect hostility” but seeks to restore “a spirit of reciprocity.”
Xie Feng, the Chinese ambassador to the U.S., echoed calls for “reciprocity.”
The leaders’ comments come as trade tensions with Beijing persist, with a fragile truce set to expire in January. Trump is expected to travel to the southern Chinese city of Shenzhen next week to meet Xi for the third time this year. Trade is likely to be high on the agenda.
U.S. Trade Representative Jamieson Greer had a video call with Chinese Vice Premier He Lifeng last week in which Greer’s office said he urged Beijing to take “concrete actions to fully implement its past commitments, particularly as they relate to agricultural purchases, rare earths, and other critical minerals.”
