{"id":203753,"date":"2025-04-08T11:15:00","date_gmt":"2025-04-08T15:15:00","guid":{"rendered":"https:\/\/ibkrcampus.eu\/campus\/uncategorized\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/"},"modified":"2025-04-09T08:47:59","modified_gmt":"2025-04-09T08:47:59","slug":"treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/","title":{"rendered":"Treasury Secretary Bessent Says China Holds &#8216;Losing Hand&#8217; In Tariff Escalation"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-zinger-key-points\"><a href=\"https:\/\/twitter.com\/benzinga\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a><a href=\"https:\/\/twitter.com\/benzinga\" target=\"_blank\" rel=\"noreferrer noopener\"><\/a>Zinger Key Points<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>\u201cI think it was a big mistake, this Chinese escalation, because they\u2019re playing with a pair of twos,\u201d Bessent says.<\/li>\n\n\n\n<li>Markets rally on hopes for tariff deals with other nations, including Japan.<\/li>\n<\/ul>\n\n\n\n<p>Treasury Secretary<strong>&nbsp;Scott Bessent<\/strong>&nbsp;on Tuesday characterized&nbsp;<a href=\"https:\/\/www.benzinga.com\/markets\/25\/04\/44677506\/china-resolutely-opposes-trumps-50-tariff-threat-vows-countermeasures-as-trade-tensions-jolt-markets\" target=\"_blank\" rel=\"noreferrer noopener\">China\u2019s retaliatory trade actions<\/a>&nbsp;as a \u201cbig mistake,\u201d saying the nation is \u201cplaying with a losing hand\u201d in the escalating tariff conflict with the United States.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-details-nbsp\"><strong>The Details:<\/strong>&nbsp;<\/h2>\n\n\n\n<p>Bessent appeared on CNBC&#8217;s Squawk Box where he&nbsp;<a href=\"https:\/\/www.cnbc.com\/2025\/04\/08\/treasury-secretary-bessent-says-chinas-escalation-was-big-mistake-country-playing-with-losing-hand.html\" target=\"_blank\" rel=\"noreferrer noopener\">addressed<\/a>&nbsp;China&#8217;s recent comments that it will &#8220;fight to the end&#8221; in a trade war with the U.S.&nbsp;<\/p>\n\n\n\n<p>&#8220;I think it was a big mistake, this Chinese escalation, because they&#8217;re playing with a pair of twos,&#8221; Bessent said.<\/p>\n\n\n\n<p>&nbsp;&#8220;What do we lose by the Chinese raising tariffs on us? We export one-fifth to them of what they export to us, so that is a losing hand for them,&#8221; he added.&nbsp;<\/p>\n\n\n\n<p>Bessent&#8217;s comments come after President&nbsp;<strong>Donald Trump<\/strong>&nbsp;said he will slap another 50% charge on Chinese imports if the 34% retaliatory tariff on U.S. goods is not withdrawn.&nbsp;<\/p>\n\n\n\n<p>Beijing responded on Monday with the following comments:&nbsp;<\/p>\n\n\n\n<p>&#8220;The U.S. threat to escalate tariffs on China is a mistake on top of a mistake,&#8221; the Commerce Ministry said in a&nbsp;<a href=\"https:\/\/www.benzinga.com\/markets\/25\/04\/44677506\/china-resolutely-opposes-trumps-50-tariff-threat-vows-countermeasures-as-trade-tensions-jolt-markets\" target=\"_blank\" rel=\"noreferrer noopener\">statement translated<\/a>&nbsp;by CNBC. &#8220;China will never accept it. If the U.S. insists on its own way, China will fight to the end.&#8221;<\/p>\n\n\n\n<p><strong>Mao Zhenhua<\/strong>, an economics professor at the University of Hong Kong, said that China&#8217;s comments show the nation is &#8220;ready to act,&#8221; as<a href=\"https:\/\/www.scmp.com\/economy\/global-economy\/article\/3305666\/brace-impact-chinese-economist-warns-gloves-are-us-trade-war?utm_medium=email&amp;utm_source=cm&amp;utm_campaign=enlz-today_international&amp;utm_content=20250408&amp;tpcc=enlz-today_international&amp;UUID=69b4a47a-ff60-4b7a-b889-784cba25513c&amp;next_article_id=3305526&amp;article_id_list=3305666,3305526&amp;tc=4\" target=\"_blank\" rel=\"noreferrer noopener\">&nbsp;reported<\/a>&nbsp;by the South China Morning Post.&nbsp;<\/p>\n\n\n\n<p>&#8220;The probability for both sides to meet for talks or even a turnaround is very small,&#8221; Mao added, warning all parties to &#8220;brace for impact&#8221;.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-what-else-nbsp\"><strong>What Else:&nbsp;<\/strong><\/h2>\n\n\n\n<p>Bessent also told CNBC that Japan is eager to negotiate on tariffs and the White House expects many other countries to come to the table as well.&nbsp;&nbsp;<\/p>\n\n\n\n<p>&#8220;I think you are going to see some very large countries with large trade deficits come forward very quickly,&#8221; Bessent said. &#8220;If they come to the table with solid proposals, I think we can end up with some good deals.&#8221;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-markets-react-nbsp\"><strong>Markets React:<\/strong>&nbsp;<\/h2>\n\n\n\n<p>All 3 major indexes opened Tuesday&#8217;s session in the green as Wall Street felt some relief amid hope for tariff deals.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Some U.S.-listed Chinese stocks traded lower despite the broad market rally, including&nbsp;<strong>Alibaba Group Holding Limited<\/strong>&nbsp;and<strong>&nbsp;PDD Holdings Inc.<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.benzinga.com\/news\/global\/25\/04\/44685614\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\">Treasury Secretary Bessent Says China Holds &#8216;Losing Hand&#8217; In Tariff Escalation<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u201cI think it was a big mistake, this Chinese escalation, because they\u2019re playing with a pair of twos,\u201d Bessent says.<\/p>\n","protected":false},"author":1584,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[151,146,147,8,12,148,7],"tags":[],"contributors-categories":[407],"class_list":{"0":"post-203753","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-asia","7":"category-macro","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-text-articles","12":"category-traders-insight","13":"contributors-categories-benzinga"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Treasury Secretary Bessent Says China Holds &#8216;Losing Hand&#8217; In Tariff Escalation<\/title>\n<meta name=\"description\" content=\"\u201cI think it was a big mistake, this Chinese escalation, because they\u2019re playing with a pair of twos,\u201d Bessent says.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/203753\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Treasury Secretary Bessent Says China Holds &#039;Losing Hand&#039; In Tariff Escalation\" \/>\n<meta property=\"og:description\" content=\"\u201cI think it was a big mistake, this Chinese escalation, because they\u2019re playing with a pair of twos,\u201d Bessent says.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus EU\" \/>\n<meta property=\"article:published_time\" content=\"2025-04-08T15:15:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-04-09T08:47:59+00:00\" \/>\n<meta name=\"author\" content=\"Erica Kollmann\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Erica Kollmann\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"Article\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Erica Kollmann\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/9c9f140035e1104184f786f781db5ce1\"\n\t            },\n\t            \"headline\": \"Treasury Secretary Bessent Says China Holds &#8216;Losing Hand&#8217; In Tariff Escalation\",\n\t            \"datePublished\": \"2025-04-08T15:15:00+00:00\",\n\t            \"dateModified\": \"2025-04-09T08:47:59+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/\"\n\t            },\n\t            \"wordCount\": 458,\n\t            \"commentCount\": 0,\n\t            \"articleSection\": [\n\t                \"Asia Pacific\",\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/\",\n\t            \"name\": \"Treasury Secretary Bessent Says China Holds 'Losing Hand' In Tariff Escalation - IBKR Campus EU\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#website\"\n\t            },\n\t            \"datePublished\": \"2025-04-08T15:15:00+00:00\",\n\t            \"dateModified\": \"2025-04-09T08:47:59+00:00\",\n\t            \"author\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/9c9f140035e1104184f786f781db5ce1\"\n\t            },\n\t            \"description\": \"\u201cI think it was a big mistake, this Chinese escalation, because they\u2019re playing with a pair of twos,\u201d Bessent says.\",\n\t            \"breadcrumb\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/#breadcrumb\"\n\t            },\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"BreadcrumbList\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/traders-insight\\\/securities\\\/macro\\\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\\\/#breadcrumb\",\n\t            \"itemListElement\": [\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 1,\n\t                    \"name\": \"Home\",\n\t                    \"item\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/\"\n\t                },\n\t                {\n\t                    \"@type\": \"ListItem\",\n\t                    \"position\": 2,\n\t                    \"name\": \"Treasury Secretary Bessent Says China Holds &#8216;Losing Hand&#8217; In Tariff Escalation\"\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus EU\",\n\t            \"description\": \"\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.eu\\\/campus\\\/#\\\/schema\\\/person\\\/9c9f140035e1104184f786f781db5ce1\",\n\t            \"name\": \"Erica Kollmann\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.eu\\\/campus\\\/author\\\/erica1kollmann\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Treasury Secretary Bessent Says China Holds &#8216;Losing Hand&#8217; In Tariff Escalation","description":"\u201cI think it was a big mistake, this Chinese escalation, because they\u2019re playing with a pair of twos,\u201d Bessent says.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/203753\/","og_locale":"en_US","og_type":"article","og_title":"Treasury Secretary Bessent Says China Holds 'Losing Hand' In Tariff Escalation","og_description":"\u201cI think it was a big mistake, this Chinese escalation, because they\u2019re playing with a pair of twos,\u201d Bessent says.","og_url":"https:\/\/www.interactivebrokers.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/","og_site_name":"IBKR Campus EU","article_published_time":"2025-04-08T15:15:00+00:00","article_modified_time":"2025-04-09T08:47:59+00:00","author":"Erica Kollmann","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Erica Kollmann","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/"},"author":{"name":"Erica Kollmann","@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/9c9f140035e1104184f786f781db5ce1"},"headline":"Treasury Secretary Bessent Says China Holds &#8216;Losing Hand&#8217; In Tariff Escalation","datePublished":"2025-04-08T15:15:00+00:00","dateModified":"2025-04-09T08:47:59+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/"},"wordCount":458,"commentCount":0,"articleSection":["Asia Pacific","Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/","url":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/","name":"Treasury Secretary Bessent Says China Holds 'Losing Hand' In Tariff Escalation - IBKR Campus EU","isPartOf":{"@id":"https:\/\/ibkrcampus.eu\/campus\/#website"},"datePublished":"2025-04-08T15:15:00+00:00","dateModified":"2025-04-09T08:47:59+00:00","author":{"@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/9c9f140035e1104184f786f781db5ce1"},"description":"\u201cI think it was a big mistake, this Chinese escalation, because they\u2019re playing with a pair of twos,\u201d Bessent says.","breadcrumb":{"@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ibkrcampus.eu\/campus\/traders-insight\/securities\/macro\/treasury-secretary-bessent-says-china-holds-losing-hand-in-tariff-escalation\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.interactivebrokers.eu\/campus\/"},{"@type":"ListItem","position":2,"name":"Treasury Secretary Bessent Says China Holds &#8216;Losing Hand&#8217; In Tariff Escalation"}]},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.eu\/campus\/#website","url":"https:\/\/ibkrcampus.eu\/campus\/","name":"IBKR Campus EU","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.eu\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/ibkrcampus.eu\/campus\/#\/schema\/person\/9c9f140035e1104184f786f781db5ce1","name":"Erica Kollmann","url":"https:\/\/www.interactivebrokers.eu\/campus\/author\/erica1kollmann\/"}]}},"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts\/203753","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/users\/1584"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/comments?post=203753"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/posts\/203753\/revisions"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/media?parent=203753"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/categories?post=203753"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/tags?post=203753"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.eu\/campus\/wp-json\/wp\/v2\/contributors-categories?post=203753"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}