The latest developments in the US-China relationship highlight a cautious yet optimistic approach by the US, as articulated by US Treasury Secretary Scott Bessent. Speaking at the BTG Pactual CEO Conference in Sao Paulo, Bessent emphasized the potential for a 'very productive' relationship with China, describing the current state as 'comfortable' and advocating for 'fair' rivalry. He stated, 'We do not want to decouple from China, but we do need to de-risk,' underscoring the US strategy to maintain economic ties while reducing dependencies in strategic industries like critical minerals and semiconductors (Business Recorder, MarketScreener). Bessent is preparing for a meeting with Chinese Vice Premier He Lifeng, ahead of President Donald Trump's planned visit to China in April, as part of efforts to sustain a fragile trade truce (South China Morning Post).