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Trump, Xi likely to speak soon on minerals trade dispute, says Bessent
U.S. President Donald Trump and Chinese President Xi Jinping will speak soon to iron out trade issues including a dispute over critical minerals, Treasury Secretary Scott Bessent said on Sunday.
Trump on Friday accused China of violating an agreement with the U.S. to mutually roll back tariffs and trade restrictions for critical minerals.
"What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does," Bessent said in an interview with CBS' "Face the Nation." "I am confident that when President Trump and Party Chairman Xi have a call, that this will be ironed out. But the fact that they are withholding some of the products that they agreed to release during our agreement - maybe it's a glitch in the Chinese system, maybe it's intentional. We'll see after the President speaks with the party chairman." Trump said on Friday he was sure that he would speak to Xi. China said in April that the two leaders had not had a conversation recently.
Asked if a talk with Xi was on Trump's schedule, Bessent said, "I believe we'll see something very soon." White House economic adviser Kevin Hassett said no specific date for the conversation has been set, but there have been discussions that the leaders will talk about last month's Geneva agreement on some tariff disputes.
"President Trump, we expect, is going to have a wonderful conversation about the trade negotiations this week with President Xi. That's our expectation," Hassett said.
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