U.S. Treasury nominee Bessent committed to balancing 'unfair' trade with China

At Senate hearing, Trump's pick backs stronger screening of outbound investment into China

20250116N Scott Bessent confirmation hearing REU

Scott Bessent, U.S. President-elect Donald Trump's nominee to be Treasury secretary, testifies during a Senate Finance Committee confirmation hearing in Washington on Jan. 16. © Reuters

JACK STONE TRUITT, Nikkei staff writer

NEW YORK -- President-elect Donald Trump's nominee for Treasury secretary, Scott Bessent, voiced support Thursday for an economic policy approach using tariffs and sanctions as a means to counteract what he says are unfair trade practices from China.

"For too long, our nation has allowed unfair distortions in the international trading system," he said in opening remarks at the three-hour Senate confirmation hearing in Washington regarding his nomination.

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