Bessent added, "They continued buying, and they've been hoarding, and they have cut off exports of many products." On US-China relations, he told reporters he's been in contact with Chinese officials about the hoarding issue. Treasury Secretary Scott Bessent told reporters Tuesday that Beijing's panic hoarding of crude and refined products, while refusing to join the rest of the world in releasing supplies to offset the Gulf energy shock, has now demonstrated for the third time in five years that China is a ...