US Treasury Secretary Bessent Says China Will Absorb US Tariffs as Exporters Accept Lower Prices, Margins Return to Pre-COVID Levels

US Treasury Secretary Bessent stated that China is likely to absorb the impact of the tariffs imposed by the United States. He expressed the view that Chinese exporters will accept lower prices as US importers negotiate over who ultimately bears the cost of the tariffs. Bessent also noted a return to normal pre-COVID corporate margins despite the tariffs. This assessment suggests that the trade measures may not significantly disrupt pricing dynamics between US importers and Chinese exporters.