EU would ‘cut its own throat’ by pivoting to China – US Treasury secretary
US Treasury Secretary Scott Bessent has claimed that the EU would be “cutting its own throat” if it seeks a closer alliance with China while loosening ties with Washington.
Bessent commented on Wednesday after Spanish Prime Minister Pedro Sanchez had called for a reassessment of the EU’s trade relationship with Beijing earlier in the day. Sanchez told reporters during a diplomatic trip to Asia that the EU could benefit from closer cooperation with China amid uncertainty surrounding US trade policies and President Donald Trump’s recent moves to hike tariffs for nearly all trade partners.
“Nobody wins with a trade war. Every country loses,” Sanchez warned.
Bessent defended Trump’s tariff moves and urged partners not to side with Beijing, claiming that its trade policies are ruinous to the global economy.
“The economic minister in Spain made some comments this morning, ‘Oh, well, maybe we should align ourselves more with China,’ – that would be cutting your own throat,” Bessent stated at a press briefing. “These Chinese exports that the US tariff wall is gonna keep out… the Chinese business model… it never stops. They just keep producing and producing and dumping and dumping.”
Trump on Wednesday announced a 90-day pause on reciprocal tariffs for 75 countries, which he had earlier hit with duties ranging from 10% to 50% over what he called unfair trade imbalances, and lowered duties to a flat 10% rate on everyone except Beijing. Instead, he slapped China with a further hike to 125%, accusing Beijing of escalation after it raised tariffs on US goods to 84%.
“In terms of escalation, unfortunately, the biggest offender in the global trading system is China, and they’re the only country who’s escalated,” Bessent claimed.
The Treasury chief said many countries are now seeking negotiations with Washington following the tariff changes, noting upcoming talks with Japan and Vietnam. He also said he hopes to finalize new trade deals with US allies to create a united front against what he called China’s unbalanced trade structure.
China has vehemently opposed the tariffs and vowed to fight them. On Wednesday, the Chinese Finance Ministry called the latest US hikes a “mistake on top of a mistake” that “infringes on China’s legitimate rights and interests and seriously damages the rules-based multilateral trading system.”
