Treasury Secretary Bessent Says China Holds 'Losing Hand' In Tariff Escalation

Treasury Secretary Scott Bessent on Tuesday characterized China’s retaliatory trade actions as a “big mistake,” saying the nation is “playing with a losing hand” in the escalating tariff conflict with the United States. Bessent appeared on CNBC's Squawk Box where he addressed China's recent comments that it will "fight to the end" in a trade war with the U.S. "I think it was a big mistake, this Chinese escalation, because they're playing with a pair of twos," Bessent said.