The US welcomes rivalry with China, Trump plans visit to Beijing

US Treasury Secretary Scott Bessent described current relations between the US and China as "comfortable," although he openly admitted that the two countries will remain rivals. According to him, this rivalry should be fair and should not lead to a complete decoupling of economies, but rather to a reduction of risks in sensitive areas.

Washington wants to focus more on strategic sectors such as critical minerals, semiconductors, and medicines, where it is trying to "regain sovereignty" from Beijing. Bessent also stressed that competition can be beneficial and prevents stagnation.

In the long term, he said, China will not be able to maintain its extremely high trade surplus, which he described as unsustainable for the global economy.

The minister is preparing to meet with Chinese Vice Premier Che Li-feng ahead of President Donald Trump's planned visit to China in April. The US also claims that Beijing is fulfilling its obligations under the trade agreement, including the purchase of American soybeans.

(reuters, mja)