United States Treasury Secretary Scott Bessent issued a firm response to China's move to increase tariffs on US goods to 84%, following the United States' imposition of 104% tariffs on Chinese exports. In a Fox News interview, Bessent dismissed the reaction with a curt "So what," and warned Beijing not to devalue its currency to escape trade pressure, calling such a move "a tax on others."

He urged China to engage in serious negotiations and come to the table, emphasizing that Washington is weighing various options to respond to the escalating trade dispute. Among those options, Bessent mentioned the possibility of delisting Chinese companies from US stock exchanges, should tensions continue to mount. He also called on the Chinese government to take decisive action against exporters of fentanyl precursors, holding Beijing partly responsible for the ongoing opioid crisis in the US.

On the financial front, Bessent addressed concerns over recent volatility in bond markets. He expressed optimism, stating that the bond market would likely stabilize as the US proceeds with new trade agreements. Bessent said he does not see the current deleveraging in the bond sector as indicative of any systemic risk to the economy.

The Treasury Secretary also reaffirmed the administration’s commitment to a strong dollar policy, despite recent depreciation linked to economic uncertainty. He noted that planned deregulation would give banks more flexibility to purchase US treasuries, potentially bolstering financial stability in the long term.

Bessent’s remarks underline the Trump administration’s dual-track approach: applying economic pressure while promoting internal market confidence. The evolving trade and financial policies signal a strategic posture designed to maintain leverage abroad while reassuring domestic markets of long-term resilience and strength.