U.S. Treasury Secretary Scott Bessent issued one of the Trump administration’s sharpest rebukes of Beijing to date, warning Monday that China is financing war and is threatening global stability amid growing U.S.-China trade tensions.
“The United States is pushing for peace in the world. China is financing war,” Bessent said on Mornings with Maria. The secretary accused Beijing of “provocative” behavior as both nations prepare for a potential meeting between President Donald Trump and Chinese President Xi Jinping later this month in South Korea.
Bessent praised Trump’s leadership in responding to China’s recent export restrictions on rare earth minerals — critical components for manufacturing and defense technology. “Trying to get leverage in front of a meeting with Donald Trump is a bad idea,” he said. “He turned the tables with his two very good tweets on Friday talking about raising tariffs and implementing any sanctions that we need to.”
Trump over the weekend sought to ease fears of a prolonged economic conflict, writing on Truth Social, “Don’t worry about China, it will all be fine! … The U.S.A. wants to help China, not hurt it!!!”
Still, Beijing warned Washington against “threats” after Trump floated a 100% tariff on Chinese imports by November 1, pledging to “resolutely take corresponding measures” if the plan moves forward.
Bessent defended the U.S. position, emphasizing allied coordination. “They have pointed a bazooka at the supply chains and the industrial base of the entire free world,” he said. “We’re not going to have it… China is a command and control economy. They are neither going to command [nor] control us.”
