The U.S. goods trade deficit with China was $295.4 billion in 2024, a 5.8 percent increase ($16.3 billion) over 2023.

As the U.S.–China trade standoff spirals, U.S. Treasury Secretary Scott Bessent says all options are on the table — including pulling Chinese stocks from U.S. exchanges.

Treasury Secretary Scott Bessent told reporters on Wednesday that it was Trump's strategy "all along" to impose high tariffs on China as he said Trump "goaded China into a bad position"