First Squawk(@FirstSquawk):U.S. TREASURY SECRETARY BESSENT SAYS CHINA ENGAGES IN 'FINANCIAL REPRESSION' ON ITS SAVERS AND THAT ITS PRODUCTS ARE 'HEAVILY SUBSIDIZED', REMARKING THAT 'BYD VEHICLES ARE THE BEST $70K CAR THAT $35K CAN BUY', WHILE ADDING THAT HE IS WORKING TO REDUCE THE U.S. BUDGET DEFICIT-TO-GDP THOUGH THE BUDGET GAP ROSE THIS YEAR DUE TO $70 BLN IN TARIFF REFUNDS.

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First Squawk@FirstSquawk

2026.09.02 17:53

U.S. TREASURY SECRETARY BESSENT SAYS CHINA ENGAGES IN 'FINANCIAL REPRESSION' ON ITS SAVERS AND THAT ITS PRODUCTS ARE 'HEAVILY SUBSIDIZED', REMARKING THAT 'BYD VEHICLES ARE THE BEST $70K CAR THAT $35K CAN BUY', WHILE ADDING THAT HE IS WORKING TO REDUCE THE U.S. BUDGET DEFICIT-TO-GDP THOUGH THE BUDGET GAP ROSE THIS YEAR DUE TO $70 BLN IN TARIFF REFUNDS.