U.S. Treasury Secretary Scott Bessent made a striking revelation in a video clip posted Monday, shedding light on how Chinese officials disregarded trade obligations during the presidential administration that preceded President Donald Trump’s.
Speaking in Geneva, Bessent shared insights from recent closed-door talks with Chinese counterparts, pointing to what he described as a failure of enforcement under former President Joe Biden.
During a media briefing, Bessent recounted a candid admission from the Chinese delegation.
“In January 2020, President Trump produced a template,” Bessent said. “We had an excellent trade agreement with China, and the Biden administration chose not to enforce it.”
He added, for emphasis: “The Chinese delegation basically told us that once President Biden came into office, they just ignored their obligations.”
🚨 MIC-DROP MOMENT: Treasury Secretary Scott Bessent just revealed that the Chinese said during their closed-door talks that they IGNORED their trade commitments under Biden because they knew he was weak.
“The Chinese delegation basically told us that once President Biden came… pic.twitter.com/wmI9XlvaNB
— TV News Now (@TVNewsNow) May 12, 2025
The comments come on the heels of a productive two-day trade negotiation in Geneva, where U.S. and Chinese officials reached a new trade deal. Bessent expressed optimism about the talks, noting the involvement of high-level Chinese officials, including the vice premier and two vice ministers.
“I’m happy to report that we made substantial progress between the United States and China in the very important trade talks,” Bessent said in the White House statement. He thanked the Swiss government for providing a venue that contributed to the discussions’ productivity.
U.S. Trade Representative Jamieson Greer, who joined Bessent in the negotiations, echoed the positive sentiment.
“This was, as the secretary pointed out, a very constructive two days,” Greer said. He emphasized the speed of the agreement, suggesting that the differences between the two nations may not have been as significant as previously thought.
Greer also highlighted the broader context of the talks.
“Just remember why we’re here in the first place — the United States has a massive $1.2 trillion trade deficit,” he said. He expressed confidence that the new deal would help address this economic imbalance.
The Geneva talks mark a significant step in de-escalating the trade war between the world’s two largest economies. The conflict had intensified after what Trump called “Liberation Day,” as America imposed tariffs of up to 145 percent on Chinese goods, prompting China to retaliate with 125 percent tariffs on U.S. products.
Bessent’s revelation about China’s behavior under Biden has sparked renewed debate about the previous administration’s foreign policy. Critics of Biden have long argued that his approach lacked the toughness needed to handle assertive global players like China and Russia.
The Treasury secretary’s comments suggest that Biden’s perceived leniency — or weakness — may have emboldened China to sidestep its commitments. This aligns with a broader Republican narrative that Biden’s leadership left the U.S. vulnerable on the world stage.
For many conservatives, Bessent’s statement is a vindication of Trump’s hard-line stance on China. Trump’s administration prioritized rebalancing trade relations, often using tariffs as leverage to push for fairer deals.
The new trade agreement, announced Sunday, includes a 90-day tariff pause. U.S. tariffs on Chinese goods will drop to 30 percent from 145 percent, while China will reduce its duties on U.S. products to 10 percent from 125 percent.
Bessent indicated that more details would be forthcoming.
The Treasury Secretary also hinted at future discussions.
“I would imagine in the next few weeks we will be meeting again to get rolling on a more fulsome agreement,” Bessent told CNBC Monday.
The trade deficit, a longstanding concern for the U.S., was a key driver behind the negotiations. Greer noted that the deal aims to address the national emergency declared by Trump over the $1.2 trillion deficit.
Bessent’s comments about Biden’s tenure have reignited discussions about leadership and accountability. Republicans argue that Biden’s soft approach allowed people like Chinese President Xi Jinping to exploit the U.S. economically.
China’s export-driven economic model has long been a point of contention. Bessent has previously called for China to shift toward a more consumption-based economy, a change he believes would benefit global trade.
The Geneva agreement has been met with cautious optimism.
Financial markets rallied on Monday, as noted by CNBC, with global stocks rising after the tariff pause was announced, signaling at least a temporary relief among investors.
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