“The United States’ recent excessive imposition of tariffs deliberately strips the development rights of Global South countries … and will only exacerbate the wealth disparity, with underdeveloped countries facing more severe repercussions,” the embassy said in a statement.
“What we are trying to keep from happening is what has happened on the African continent,” Bessent told Bloomberg in Buenos Aires on Monday.
“China has signed a number of these rapacious deals marked as aid, where they’ve taken mineral rights and added huge amounts of debt onto these countries’ balance sheets,” Bessent said, adding that Chinese efforts were aimed at making the region poorer.
In its response, the embassy said, “China has, within its capacity, offered assistance to a wide range of developing nations, including those in Latin America and Africa, without imposing any political attachments.”
