China is deliberately tanking markets to force Trump into major concessions in trade talks

Treasury Secretary Scott Bessent said Wednesday that the United States will not alter its trade negotiating stance toward China because of recent stock market swings.

“We’re not going to negotiate just because the stock market is going down,” Bessent said in an interview at CNBC’s Invest in America Forum. He emphasized that Washington will continue taking strong actions against Beijing when necessary, adding, “We negotiate because we’re doing what’s best economically for the United States.”

Bessent dismissed a Wall Street Journal report claiming that Chinese officials believe the risk of another market downturn could pressure President Donald Trump into softening his approach. The article, citing people close to Beijing’s decision-making, said President Xi Jinping is betting that the U.S. economy cannot withstand a prolonged trade confrontation.

Calling the report “terrible,” Bessent accused the newspaper of parroting “CCP dictation.” In response, a Journal spokesperson said the publication stands by its reporting, asserting that it adheres to “the highest journalistic standards.” His remarks came amid sharp market volatility following Trump’s threat to raise tariffs on Chinese goods in response to Beijing’s newly expanded export controls on rare earth minerals.