Breitbart Business Digest: Treasury Secretary Scott Bessent Exclusive—Derisking Our Trade with China

In an exclusive interview with Breitbart Business Digest, Treasury Secretary Scott Bessent expressed the Trump administration’s determination to end America’s dangerous dependence on China for critical materials and pharmaceuticals. Bessent described this effort as “taking back our sovereignty” and emphasized the importance of derisking our trade with China.

The United States has long been heavily reliant on China for key materials and pharmaceuticals. This dependence not only poses a threat to our national security but also leaves us vulnerable to supply chain disruptions and price fluctuations. Bessent highlighted the need to reduce this dependence and bring these critical industries back to American soil.

One of the key steps in achieving this goal is to diversify our supply chains and reduce our reliance on China. Bessent stated that the Trump administration is actively working towards this by encouraging companies to move their production back to the United States. This will not only ensure our supply chain security but also create new jobs and boost our economy.

Bessent also emphasized the need to address the issue of intellectual property theft by China. He stated that the Trump administration is taking a tough stance on this matter and is working towards protecting American companies from unfair trade practices. By enforcing trade agreements and imposing tariffs, the administration is sending a strong message to China that the United States will not tolerate intellectual property theft.

Moreover, Bessent stressed the importance of investing in research and development to reduce our dependency on China for critical materials and pharmaceuticals. The Trump administration has already taken steps in this direction by increasing funding for research and development in key industries. This will not only help us become self-sufficient but also foster innovation and technological advancements in these industries.

Bessent also addressed the issue of China’s dominance in the global market and its unfair trade practices. He stated that the Trump administration is committed to leveling the playing field and ensuring fair trade for American companies. By renegotiating trade deals and imposing tariffs on Chinese imports, the administration is working towards creating a fair and balanced trade environment.

In addition, Bessent emphasized the need for transparency in trade with China. He stated that the Trump administration is working towards ensuring that American companies have access to accurate and reliable information when it comes to conducting business with China. This will help them make informed decisions and mitigate risks associated with trade with China.

Bessent’s interview highlights the Trump administration’s determination to end America’s dependence on China for critical materials and pharmaceuticals. By derisking our trade with China, diversifying our supply chains, and investing in research and development, the administration is taking concrete steps towards achieving this goal. This not only ensures our national security but also strengthens our economy and protects American jobs. As Bessent said, it is time for America to take back its sovereignty and reduce its dependence on China.