U.S. Treasury Secretary Scott Bessent predicted on Tuesday (April 29) that China could lose 10 million jobs quickly due to tariffs and that Beijing will see over time that Chinese tariffs are not sustainable. - REUTERS
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00:00Is the administration talking to Beijing specifically about tariffs or not?
00:05Well, we're not going to talk about who's talking to whom, but I think that over time
00:10we will see that the Chinese tariffs are unsustainable for China.
00:15I've seen some very large numbers over the past few days to show if these numbers stay
00:22on, Chinese could lose 10 million jobs very quickly.
00:26And even if there is a drop in the tariffs, that they could lose 5 million jobs.
00:31So remember that we are the deficit country.
00:35They sell almost five times more goods to us than we sell to them.
00:40So the onus will be on them to take off these tariffs.
00:46They're unsustainable for them.
00:48And they are saying you guys are not talking about it.
00:51So is that true?
00:53They have a different form of government.
00:54They're playing to a different audience.
00:57So I'm not going to get into the nitty gritty again of who's talking to whom.
01:04But as I said, I believe for the Chinese, these tariffs are unsustainable.
01:09Okay.