Trump signals fresh trade tensions with China
Washington - US President Donald Trump signaled renewed trade tensions with China on Friday, arguing that Beijing had "violated" a deal to de-escalate tariffs, at a time when both sides appeared deadlocked in negotiations. "China, perhaps not surprisingly to some, HAS VIOLATED ITS AGREEMENT WITH US," said Trump in a post on his Truth Social platform, hours after his Treasury Secretary Scott Bessent said trade talks were "a bit stalled."
US trade talks with China were "a bit stalled," and getting a deal over the finish line will likely need the direct involvement of President Donald Trump and Chinese President Xi Jinping, US Treasury Secretary Scott Bessent told Fox News on Thursday.
Two weeks after breakthrough negotiations that resulted in a temporary truce in the trade war between the world's two biggest economies, Bessent said progress since then has been slow, but said he expects more talks in the next few weeks.
The US-China agreement to dial back triple-digit tariffs for 90 days prompted a massive relief rally in global stocks. But it did nothing to address the underlying reasons for Trump's tariffs on Chinese goods, mainly longstanding U.S. complaints about China's state-dominated, export-driven economic model, leaving those issues for future talks.
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