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President Donald Trump lambasted China again on Friday and claimed it “totally violated” a trade agreement with the U.S.
“China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US,” Trump said in Friday morning social media post. “So much for being Mr. NICE GUY!”
The remarks injected fresh uncertainty into the recent agreement between the U.S. and China that led to a 90-day suspension of triple-digit tariffs both countries had levied on each other. China has kept a 10% tariff on U.S. imports while the U.S. maintains a 30% tariff on Chinese goods. Stocks dropped after Trump’s social media post.
Negotiations on a sweeping agreement are still playing out, but whether or not the Trump administration strikes a deal remains to be seen.
The legal backdrop is unsettled. A three-judge federal panel on Wednesday struck down the legal justification for Trump’s “Liberation Day” tariffs, threatening to unwind large portions of his trade agenda. A federal appeals court issued a temporary stayallowing the tariffs to remain in place while it reviews the case. The administration now has until June 9 to make its arguments, with the White House vowing to escalate the battle all the way to the Supreme Court if needed.
In an interview with Fox News (Dread-0.75%) on Friday, Treasury Secretary Scott Bessent suggested that actual progress may hinge on a direct call between President Trump and Chinese President Xi Jinping. “Given the magnitude of the talks… this is going to require both leaders to weigh in,” he said.
—Catherine Bab Contribution to this article.
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