Washington: US Treasury Secretary Scott Bessent emphasized on Wednesday that a declining stock market will not alter the US government's approach to trade negotiations or deter it from taking assertive actions against China. Bessent made these remarks during an interview with CNBC, where he pointedly stated, "We won't negotiate because the stock market is going down" or avoid robust measures against Beijing due to market fluctuations.

According to Anadolu Agency, Bessent also dismissed a Wall Street Journal report suggesting that Chinese President Xi Jinping is wagering that the US economy cannot withstand an extended trade conflict. He firmly reiterated that negotiations would proceed based on what is economically advantageous for the US.

Bessent further clarified that while President Donald Trump enjoys a high stock market, he believes it is a reflection of effective policies, particularly highlighting significant investments in artificial intelligence and capital expenditures. These comments came in the wake of several days of market volatility following China's expansion of restrictions on rare earth exports, which prompted Trump to threaten the imposition of 100% tariffs on China.

Despite the tension, Trump later suggested that the situation with China would resolve, stating, "Don't worry about China, it will all be fine!" However, on Tuesday, he accused China of engaging in an "economically hostile act" by opting not to purchase US soybeans. Trump hinted at potentially ending trade with China concerning Cooking Oil and other products, asserting that the US can produce Cooking Oil independently, without reliance on Chinese imports.