US Treasury Secretary advocates for "more balanced" trade with China ahead of Trump-Xi meeting

U.S. Treasury Secretary Scott Bessent, in a speech on November 11, 2026, defended a "more balanced" trade relationship between the United States and China, arguing for reduced U.S. economic dependence on imports and increased Chinese consumption of its own products. These remarks come ahead of a scheduled meeting between President Trump and President Xi Jinping at the APEC summit.

Context

Trade tensions between the U.S. and China have escalated in recent years, with tariffs and trade barriers impacting both nations. The U.S. has expressed concerns over trade imbalances, prompting calls for changes in trade practices. The upcoming APEC summit provides a platform for high-level discussions on these issues.

Why it matters

The U.S.-China trade relationship is critical to the global economy, influencing markets, supply chains, and diplomatic relations. Advocating for a more balanced trade could reshape economic policies and bilateral ties. This approach may also reflect broader concerns about economic dependency and national security.

Implications

A shift towards a more balanced trade relationship may lead to changes in U.S. import policies and affect Chinese export strategies. Industries reliant on Chinese goods could face disruptions, while U.S. manufacturers may benefit from reduced competition. The broader geopolitical landscape may also be influenced by how these trade dynamics evolve.

What to watch

The outcomes of the Trump-Xi meeting could signal shifts in trade policy and cooperation between the two countries. Observers should monitor any agreements or statements made regarding tariffs, trade practices, and economic collaboration. Reactions from business sectors and market responses will also be important indicators.