Treasury Secretary Scott Bessent said Tuesday the U.S. holds a substantial advantage over China as the two nations exchange threats in a burgeoning trade war. "I think it was a big mistake, this Chinese escalation,

The U.S. goods trade deficit with China was $295.4 billion in 2024, a 5.8 percent increase ($16.3 billion) over 2023.

U.S. Treasury Secretary Scott Bessent will lead trade negotiations with Japan, the Nikkei newspaper reported on Tuesday.