China Basically Blew Off Trump Trade Deal Once Joe Biden Took Office, Says Bessent [WATCH]

U.S. Treasury Secretary Scott Bessent said Monday that Chinese officials admitted they abandoned prior trade commitments once President Joe Biden assumed office, as reported by The Gateway Pundit.

Bessent made the remarks during a press briefing following weekend trade talks in Geneva, Switzerland, between American and Chinese delegations.

According to Bessent, the Chinese delegation acknowledged that they ignored their trade obligations established under the Trump administration’s 2020 trade agreement.

“The Chinese delegation basically told us that once President Biden came into office, they just ignored their obligations.”

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The Geneva meetings, which lasted approximately eight hours, produced a new agreement to reduce tariffs between the two nations.

Under the terms, both China and the United States will lower tariffs on each other’s goods to 10% by May 14. The existing rate from China on American goods was reportedly 34% as of April 2.

The new deal also includes a provision for cooperation on combating the fentanyl crisis.

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China has agreed to assist the United States in “aggressive actions to stem the flow of fentanyl and other precursors from China to illicit drug producers in North America.”

“This is a pause down to 10%,” Bessent noted. “We will be working to see where their final reciprocal number ends up.”

He added that the negotiations involved more than just tariffs, explaining that discussions also covered “non-tariff trade barriers, currency manipulation, and subsidies of labor and capital.”

Bessent criticized the Biden administration for failing to enforce the terms of the original trade agreement negotiated by President Donald Trump.

“In January 2020, President Trump produced a template. We had an excellent trade agreement with China, and the Biden administration chose not to enforce it,” Bessent said.

The original 2020 trade agreement under Trump established a framework intended to address longstanding issues in U.S.–China trade relations, including intellectual property theft, forced technology transfers, and unfair market access practices.

The agreement also included commitments on purchasing American goods and enforcement mechanisms.

Bessent’s comments come as the U.S. seeks to renegotiate its position with China amid ongoing economic tensions and the continuing opioid epidemic.

HOLY SMOKES: Treasury Secretary Scott Bessent just revealed that the Chinese said during their closed-door talks that they IGNORED their trade commitments under Biden because they knew he was weak.

“The Chinese delegation basically told us that once President Biden came into… pic.twitter.com/vdJDoRUr4y

— Eric Daugherty (@EricLDaugh) May 12, 2025

The Treasury Secretary emphasized the importance of holding China to its commitments regardless of changes in American leadership.

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