Treasury chief says US seeks ‘fair’ China competition, eyes Latin America realignment

South China Morning PostEN 1 min read 100% complete by Igor PatrickFebruary 10, 2026 at 11:05 PM

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US Treasury Secretary Scott Bessent stated the US aims for fair competition with China while reducing vulnerabilities in strategic sectors like critical minerals and semiconductors. Speaking in Sao Paulo, Bessent emphasized that the US does not seek to decouple from China but to diversify supply chains and reduce risks to national security. He highlighted the need for China to adjust its economic model, citing its large trade surplus. Bessent also underscored the importance of strengthening economic and political ties with Latin America as a central part of US strategy. These comments precede upcoming talks between US and Chinese officials, including a potential visit by President Trump to China in April, aimed at stabilizing commercial relations.

Key Entities & Roles

Key Player Opposition Context

Mark Carney ×230% Xi Jinping ×230% BTG Pactual 40% Sao Paulo 40% Washington 50% He Lifeng 50% Donald Trump 50% Beijing 50% Latin America ×270% China ×790% Scott Bessent ×390% United States ×390%

Keywords

us-china competition 90% latin america 80% economic relations 70% supply chain diversification 60% scott bessent 60% trade surplus 50% national security 50% decoupling 40%

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Neutral

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South China Morning Post

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90%

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us-china competition latin america economic relations supply chain diversification scott bessent trade surplus national security decoupling

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