In a recent address at the Institute of International Finance, Treasury Secretary Scott Bessent emphasized the Trump administration's focus on rebalancing the U.S. economy towards manufacturing, highlighting that over 100 countries have approached the U.S. to address trade imbalances. He urged China to shift away from its export-led growth model, describing it as "unsustainable," and expressed the need for economic rebalancing between the two nations, aligning with the administration's goal of enhancing U.S. manufacturing. Amidst ongoing trade tensions, Bessent suggested the potential for a significant trade agreement with China, though he did not indicate any immediate changes to the administration's assertive trade policies.
