- Trump and Xi are expected to speak soon amid rising trade tension and tariff disputes.
- Markets dipped as U.S.-China accusations over trade violations escalated again.
- Trump blasted China on Truth Social, saying it “totally violated” their agreement.
President Trump and Chinese President Xi might be picking up the phone to talk sometime this week, according to a White House official. The conversation could happen “very soon”—though probably not today—and it’s expected to be one-on-one. The timing comes as tensions flare once again between Washington and Beijing, putting their fragile trade deal on edge.
Market Jitters & Trade Flashpoints
On Monday morning, U.S. markets opened in the red, with investors clearly spooked by the latest round of public jabs between the two nations. Trade had taken a nosedive in April after Trump slapped tariffs on Chinese imports, pushing them up to a brutal 145%. Beijing hit back with heavy duties of its own. They agreed mid-May to pause the chaos for 90 days after meeting in Switzerland, but things have been rocky since.
Accusations Fly Both Ways
The U.S. recently accused China of dragging its feet on exporting crucial minerals, while China fired back, slamming America for its warnings against Chinese tech—especially chips. A Chinese Commerce Ministry spokesperson even accused the U.S. of trying to stir up “new economic and trade frictions” on purpose, which, in their view, is making everything more unstable.
Trump Sounds Off—Loudly
Top Trump officials admit the trade talks are slowing down. Treasury Secretary Scott Bessent said any progress now “needs both leaders to weigh in.” But Trump’s patience? Wearing thin. “China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,” he posted Friday on Truth Social. And then, just to drive it home: “So much for being Mr. NICE GUY!”
