Bessent’s remarks came as India and the EU finalised negotiations on a long-pending free trade agreement, expected to be formally announced on Tuesday.
Bessent has said China's trade surplus, which reached a record-high $1.2 trillion in 2025, is a barrier to global economic growth — as well as what he calls excessive regulation.
The Trump administration's tariff policies have been criticised by economists and politicians for raising costs for US consumers and, in many cases, for punishing allies.
Iranian Foreign Ministry spokesperson Esmail Baghaei told reporters in Tehran on Monday that "any escalation of this situation will undoubtedly bring about consequences."
