Trump’s Treasury Secretary Scott Bessent revealed that the US government has what he called a “grand encirclement” strategy aimed at isolating and weakening China.

Trump hit China with tariffs of 145%, imposing what is essentially a trade embargo.

The Trump administration wanted to pressure Japan, South Korea, Vietnam, and India to follow the US and “approach China as a group”, Bessent said, according to Bloomberg.

This strategy is clearly failing.

The finance ministers and central bank governors of China, Japan, South Korea, and members of the Association of Southeast Asian Nations (ASEAN) met in Italy on May 4 and published a joint statement pledging “to further strengthen regional financial cooperation”.

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