Bessent Claims China Could Lose 10 Million Jobs "Very Quickly" If Tariffs Remain

U.S. Treasury Secretary Scott Bessent said that China could lose up to 10 million jobs “very quickly” if it fails to reduce tariffs amid escalating trade tensions.

Pressed on whether trade talks with China were underway, Bessent declined to clarify. I Photo: The U.S. Treasury

The comments, reported by Jennifer Schonberger for Yahoo Finance, came during a press briefing at the White House.

Bessent cited external projections and warned that even with some reduction in U.S. tariffs, China could still lose 5 million jobs. “So remember that we are the deficit country,” he said.

“They sell almost five times more goods to us than we sell to them. So the onus will be on them to take off these tariffs. They're unsustainable for them.”

Pressed on whether trade talks were underway, Bessent declined to clarify. China has denied negotiations are ongoing, despite President Trump’s suggestions to the contrary.

“I'm not going to get into the nitty-gritty again of who's talking to whom, but as I said, I believe for the Chinese, these tariffs are unsustainable,” Bessent told reporters.

Bessent also stated that the U.S. was nearing a deal with India and saw progress with South Korea and Japan.