The U.S. Department of the Treasury issued Secretary Scott Bessent's statement before the House Ways and Means Committee, in which he stressed that China "needs to be a reliable partner in trade negotiations."
In addition, Bessent suggested that "if China will course-correct by upholding its end of the initial trade agreement outlined in Geneva last month, then a big, beautiful rebalancing of the world’s two largest economies is possible."
The official also made mention of the historic US-UK trade deal, calling it "a preview of what’s to come" as President Trump realises his economic agenda on tax and trade. Ha added that dozens of countries have engaged the administration thus far with offers to improve their trade relations with the United States.
Treasury Secretary also noted that his department is now working closely with members of the Senate to get the One Big Beautiful Bill - the legislation "squarely aimed at boosting the working and middle class and reinvigorating American manufacturing" - to the President’s desk.