Trade war: Trump, Xi speak amid deadlock over tariffs; what was discussed
US President Donald Trump and Chinese President Xi Jinping held a phone call on Thursday, Chinese state media reported, as negotiations over contentious trade tariffs between the two nations remain stuck in a gridlock that has rattled global markets.
The discussion on Thursday followed Trump suggesting it was tough to reach a deal with Xi.
'I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!' Trump wrote on Truth Social yesterday.
Talks between the US and China had temporarily resumed after a May 12 agreement to lower tariffs, but no breakthrough has followed. Behind the stalemate is an intensifying race for economic dominance.
China, Trump said, is 'slow-walking' negotiations, while Beijing insists it is sticking to its principles.
The call also came hours after Trump doubled down on tariffs, raising aluminum and steel levies from 25% to 50%, further fueling tensions with allies like Canada and Mexico, who immediately threatened retaliation.
China was hit hardest by Trump's earlier April tariff blitz, with additional duties of up to 145%.
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It responded with countermeasures on US goods reaching 125%. A temporary easing agreed last month now appears fragile.
While the White House had hinted at a Xi-Trump call to defuse tensions, Trump's rhetoric suggested the opposite. In response, Chinese foreign ministry spokesman Lin Jian reiterated that Beijing's approach to US relations remains 'consistent.'
Meanwhile, global concerns are growing. OECD leaders convening in Paris warned that the trade war is weakening economic growth.
The US-EU trade talks offered a sliver of optimism, with both sides calling recent meetings 'constructive.'
But the US president's unpredictable tariff escalations have left even American allies on edge. Canadian PM Mark Carney called the new levies 'illegal,' while Mexico's Economy Minister Marcelo Ebrard said the country would seek exemptions or consider countermeasures.
Trump's trade war is also under legal scrutiny. Though some tariffs are being challenged, most remain in place pending appeals, an uncertainty that continues to shake industries from steel to aviation.
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