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Bessent on China trade tensions: This is China versus the world, not a U.S.-China problem

Treasury Secretary Scott Bessent said at CNBC's Invest in America Forum on Wednesday that China's recent trade hostility is "clearly something that they were planning all along." Bessent said the U.S. does not want to have to escalate, but, if necessary, has retaliatory means "more powerful" than China's rare earth export controls.

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