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US Treasury Secretary Scott Bessent has strongly criticized China's recent imposition of tariffs on the US, calling the move "regrettable." Beijing's escalation "is a loss for them," he said.
"I think it's unfortunate that the Chinese actually don't want to come and negotiate, because they are the worst offenders in the international trading system," he told Fox Business Network.
China has responded to the US trade war, even filing a complaint with the World Trade Organization over US tariffs.
The effects of President Donald Trump's tariffs are also being felt in European markets, where they have suffered declines.
The UK's FTSE 100 index has fallen 3.3% so far this year, while Germany's Dax has fallen 4% and France's Cac 40 has fallen 4%.
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