Bessent Dismisses China Investing in US for a Trade Pact

Treasury Secretary Scott Bessent dismissed the possibility that Chinese investments in the US could be part of any trade pact. He said his “sense is no” to China making pledges worth billions of dollars like Japan, South Korea and the EU have as part of their trade agreements. Meanwhile, US tariff revenue reached a fresh monthly record in July as customs duties climbed to $28 billion, marking a 273% surge over July last year. Bloomberg’s Kriti Gupta breaks down the situation.