US Treasury Secretary Bessent says US-China ties are stable but competitive, aiming for fair competition and de-risking, not decoupling, while he adds China must rebalance amid persistent USD 1tln trade imbalance
Newsquawk Staff ·
US Treasury Secretary Bessent says US-China ties are stable but competitive, aiming for fair competition and de-risking, not decoupling, while he adds China must rebalance amid persistent USD 1tln trade imbalance.
What it means
The remarks by the US Treasury Secretary suggest a nuanced stance in US-China relations, emphasizing stability and competition without heading towards full decoupling. This may imply continued economic interdependence which could influence currency and commodity markets, particularly as trade balances are addressed. Monitoring how this affects risk sentiment and the broader geopolitical landscape will be crucial.
Sources
- Russian Foreign Minister Lavrov says the Ukraine conflict is likely to continue and will likely escalate. Leaders of Finland and Norway raised no new proposals.
- Russian Deputy PM Novak says domestic refineries are bringing units back online very quickly following maintenance. Russia and the US could begin cooperating on Arctic LNG projects
- Russian President Putin says Russia should avoid going too far with the green agenda and must consider ending the ongoing conflict and lifting sanctions
- US Midterms (7 days out): Democrats’ early-vote lead narrows in 8 states; Texas and Nebraska flip to Republicans, South Carolina now tied
- Senior Ukrainian official says the ceasefire in Oleshky will last until November 1st
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