'Both sides show respect', says Bessent

AWANI

"We had very robust discussions. Both sides showed great respect," says U.S. Treasury Secretary Scott Bessent after announcing a 90-day pause in tariffs between the US and China.

Transcript

00:00We have reached an agreement on a 90-day pause and substantially moved down the tariff levels.

00:16Both sides on the reciprocal tariff will move their tariffs down 115 percent.

00:22We had very robust discussions.

00:32Both sides showed great respect.

00:38We've identified five or six strategic industries and supply chain vulnerabilities.

00:45And we will continue moving toward U.S. independence and or reliable supplies from allies on those.

00:55But the consensus from both delegations this weekend is neither side wants a decoupling.

01:04And what had occurred with these very high tariffs, as the best recruiter said, was the equivalent of an embargo.

01:15And neither side wants that.

01:18We do want trade.

01:20We want more balanced trade.

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