Trump speaks to China's Xi amid ongoing dispute over trade truce
Trump likely to speak with China's president this week, White House says
Washington — President Trump spoke to Chinese President Xi Jinping on Thursday amid an ongoing dispute over a temporary deal to ease the escalation of tariffs between the U.S. and China.
The Chinese Embassy in Washington said the two leaders spoke Thursday morning at Mr. Trump's request. The White House did not immediately confirm the conversation.
Under a May 12 truce between the two superpowers, the U.S. reduced tariffs on Chinese goods to around 30% from 145%, while China reduced its levies on American imports to 10%. The 90-day deal was meant to give both sides breathing room to strike a broader agreement, but talks soon stalled.
Last week, Mr. Trump accused China of violating the May 12 deal. U.S. officials have said China is withholding some products, including rare earth minerals, that it agreed to resume exporting under the agreement. Earlier this week, China said the U.S. is undermining the deal by imposing new export control guidelines on AI chips and planning to revoke Chinese student visas.
On "Face the Nation with Margaret Brennan" on Sunday, Treasury Secretary Scott Bessent said he was expecting the two leaders to resolve their issues when they spoke.
"I am confident that when President Trump and party Chairman Xi have a call, that this will be ironed out," Bessent said.
In an early morning post on Truth Social on Wednesday, the president wrote that "I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!"
contributed to this report.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
Analysts unveil bold forecast for Alphabet stock despite ChatGPT threat
Analysts unveil bold forecast for Alphabet stock despite ChatGPT threat originally appeared on TheStreet. You typed in a question and clicked a few links, and Google could get paid if you landed on an ad. For years, that simple cycle helped turn Google into a trillion-dollar titan. But now, that model is under threat. 💵💰💰💵 AI-powered chatbots like OpenAI's ChatGPT are rapidly changing how people find answers. Instead of browsing through links, users are getting direct summaries on AI. These 'zero-click' searches quietly erode the economics that built the modern internet. The number of users is growing fast. OpenAI CEO Sam Altman said in April that ChatGPT already has 'something like 10% of the world" in terms of users, pegging the number closer to 800 million, Forbes reported. Even Google seems to know it. It's giving AI answers, called AI Overviews, right at the top of the page. "What's changing is not that fewer people are searching the that more and more the answers to Google are being answered right on Google's page. That AI box at the top of Google is now absorbing that content that would have gone to the original content creators," Cloudflare CEO Matthew Prince said in a CNBC interview. Alphabet () , Google's parent company, isn't showing any cracks just yet. In April, the company posted first-quarter revenue of $90.23 billion, topping Wall Street expectations. Earnings per share came in at $2.81, far above the forecasted $ the backbone of Google's business, brought in $66.89 billion, accounting for nearly three-quarters of total revenue. Its 'Search and other' segment rose almost 10% year over year, hitting $50.7 billion. Meanwhile, Google's own AI tools are starting to show traction. AI Overviews now has 1.5 billion users per month, up from 1 billion in October, the company said. So far, the numbers suggest that AI isn't cannibalizing Google's business yet. Bank of America remains bullish on Alphabet stock. The firm reiterated a buy rating and a price target of $200, which implies a potential 15% upside from current levels, according to a recent research report. The firm said in May, Google's global average daily web visits held steady at 2.7 billion, unchanged from the previous month and down 2% from a year earlier. ChatGPT, meanwhile, saw a 3% month-over-month increase to 182 million, marking a 105% jump the U.S., Google traffic slipped 2% year-over-year to 524 million daily visits, while ChatGPT surged 112% over the same period to 26 million. Although Google has highlighted the growing reach of its AI Overviews, analysts are uncertain whether it's translating into more traffic. 'So far, we are not seeing a lift in Google traffic from AI Overviews expansion, though we think the search experience is much improved,' the analysts wrote. The competition is real. Google's global search share also edged down in May, falling 8 basis points month-over-month and 123 basis points year-over-year to 89.6%, according to Statcounter. Still, Bank of America analysts remain optimistic on Alphabet stock. "While ChatGPT's traffic continues to grow rapidly, we think Google remains well-positioned given its scale, multi-product reach, data assets, and robust monetization infrastructure," the analysts said. "AI can expand overall search monetization by better understanding the intent behind complex and long-tail queries that were previously hard to monetize," they added. Morningstar's Malik Ahmed Khan echoed that sentiment, saying Alphabet's diverse revenue streams and global exposure should cushion any hits, even as regulatory and AI risks mount, according to a May research report. Alphabet stock closed at $174.92 on June 6. The stock is down 8% unveil bold forecast for Alphabet stock despite ChatGPT threat first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Upturn
24 minutes ago
- Business Upturn
Bitcoin rebounds above $104,700 after initial dip on Trump-Musk fallout
Bitcoin (BTC) staged a smart recovery on Friday, climbing back above the $104,700 mark after an early dip sparked by jitters in the market following the reported fallout between former US President Donald Trump and tech billionaire Elon Musk. As per latest data, Bitcoin was trading at $104,731.41, up 2.18% over the past 24 hours. The cryptocurrency saw a volatile session, hitting an intraday low of $102,405.29 before bouncing back sharply to test a high of $105,333.00. The market had initially reacted negatively to reports of strained relations between Trump and Musk, which had raised concerns about potential policy shifts or regulatory overhang on digital assets in the US. The development triggered a broad risk-off sentiment across major cryptocurrencies during early trade. However, BTC's resilience was on display as buyers stepped in at lower levels, fueling a strong rebound. The 24-hour trading volume stood robust at 14,435.76 BTC, with $1.5 billion USDT turnover, indicating healthy participation on the bounce. Crypto market analysts noted that despite short-term headlines, underlying bullish momentum in BTC remains intact amid improving institutional interest and optimism around the next leg of mainstream adoption. Traders will be watching closely for further developments on the Trump-Musk front, along with upcoming macroeconomic cues, which could influence BTC's near-term trajectory. Note: $BTC price at the time of writing this article. News desk at
Yahoo
27 minutes ago
- Yahoo
SmartRent Enhances Its Platform with AI Intelligence and Energy-Saving Features
SmartRent, Inc. (NYSE:SMRT), a top provider of smart community and operations solutions for the rental housing sector, has announced a major upgrade to its platform by adding an AI-powered intelligence layer and improved energy management tools. These enhancements are designed to help operators make better decisions that reduce utility waste, lower costs, and support environmental, social, and governance (ESG) objectives. A builder wearing a hard hat admiring a newly constructed smart home. The latest innovation, SMRT IQ, uses real-time data from connected devices to give teams comprehensive insights across their entire property portfolio, enabling quicker and smarter operational decisions. This update represents a significant shift for SmartRent, Inc. (NYSE:SMRT), moving beyond simple automation to delivering intelligent solutions that simplify data access and interpretation, allowing operators to take immediate action. Isaiah DeRose-Wilson, Chief Technology Officer at SmartRent, Inc. (NYSE:SMRT), made the following comment: "SMRT IQ marks a significant milestone in SmartRent's evolution. It delivers constant, real-time IoT-device level data and visibility into all aspects of property performance, enabling the decision-making process with insights that just weren't possible before. By combining that data with conversational AI, we're helping teams make smarter decisions faster and act with confidence at scale. It's further connecting teams to their communities, saving them time and improving business agility across the board." Unlike others that offer partial solutions, SmartRent, Inc. (NYSE:SMRT) provides a complete property operations platform tailored for rental housing. It integrates connected hardware, digital workflows, and built-in intelligence to automate tasks for owners, operators, and site teams, helping reduce operating costs while enhancing the resident experience within one unified system. While we acknowledge the potential of SMRT as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: and Disclosure. None. Sign in to access your portfolio
