Bessent on CNBC said that China because it exports several X to the US what it imports, that is ‘a losing hand’ for them. When people take tariffs seriously in this way, it seems, producing and exporting to globalism isn't the benefit it was once thought.
'We can see from these huge surpluses... over the years, that has to tell us that there are imbalances. Now, whether those imbalances are from the actual tariff, or non-tariff barriers, currency manipulation, or the state-favored funding, it's very difficult to disentangle, but those surpluses tell me that there is a big imbalance...' Bessent.
Bessent said that getting the tariffs (or 0 tariff) set for each country quickly would give US businesses and citizens a lot of certainty.
USD seems to be devaluing. Euro has been the strongest.
Weakening dollar can increase inflation, moreso when combined with tariffs.
India has done well in exporting services, but not so well in exporting manufactured goods. India exports rice, poultry. Un-genetically modified foods.