US Will Set Price Floors to Shield Strategic Industries From CCP Influence: Bessent

‘When you are facing a non-market economy like China, then you have to exercise industrial policies,’ says the Treasury secretary.

U.S. Treasury Secretary Scott Bessent speaks during a press conference at government quarters Rosenbad after the trade talks between the United States and China concluded in Stockholm, Sweden, on July 29, 2025. Magnus Lejhall/TT News Agency/via Reuters

U.S. Treasury Secretary Scott Bessent confirmed on Oct. 15 that the United States will be using its investments in strategic industries to set “price floors” that will help shield those industries from price manipulation and market influence by the Chinese communist regime.

“For 20 years, anytime anyone in a market-based economy stood up a processor or refiner, China came in, cut [the] price, and put them out of business,” Bessent said on CNBC.