Treasury’s Bessent Says China Ignores Surplus That Distorts Global Markets

US Treasury Secretary Bessent said on Tuesday that Beijing "does not acknowledge that it has a manufacturing surplus that is impacting the rest of the world," warning that the resulting global imbalances are unsustainable. Bessent’s remarks add to mounting U.S. criticism that excess Chinese production, particularly in industrial goods, is distorting international markets and undermining competitors. The comments come just months after Washington imposed a 145% tariff on a broad range of Chinese imports, a measure aimed at curbing what the Biden administration calls unfair trade practices.