Trump and Xi Likely to Speak This Week, White House Indicates
The White House indicates that President Trump and Chinese leader Xi Jinping may speak this week. This follows Trump’s accusations of China violating trade agreement terms. Trade Secretary Scott Bessent affirmed the upcoming discussions would address critical minerals and tariffs, with court rulings complicating the trade dynamics.
In a significant anticipation, the White House has indicated that President Donald Trump and Chinese President Xi Jinping may speak this week. Karoline Leavitt, the White House press secretary, made this announcement on Monday, coinciding with Trump’s recent accusations against China for not adhering to their tariff rollback agreement. This ongoing dialogue comes amid broader trade tensions that have persisted between the two nations.
Leavitt’s remarks mark the third time a senior official in the Trump administration has suggested that a conversation between the two leaders is imminent. The discussions are crucial as they aim to clarify aspects of last month’s Geneva tariff agreement as well as address more extensive trade concerns. However, the specific timing of their conversation remains uncertain.
U.S. Treasury Secretary Scott Bessent spoke on CBS’s “Face the Nation” on Sunday, asserting that the call would occur “very soon.” He underscored that the primary focus of the talks will be to resolve disputes surrounding critical minerals and China’s imposed export restrictions on select materials. On Friday, Trump himself expressed confidence in a forthcoming dialogue with Xi.
The last recorded conversation between the two leaders, as noted by China in April, had not happened in some time. In a related development on Saturday, the U.S. Trade Representative’s office revealed it would extend exemptions on specific solar manufacturing equipment and other items from China, up to August 31, while discussions with Beijing are ongoing.
Last month, Bessent led negotiations in Geneva that resulted in a temporary ceasefire in the ongoing trade war. However, Treasury Secretary Bessent highlighted that the advancements since that agreement have been rather sluggish. The temporary U.S.-China agreement to reduce tariffs temporarily had triggered a notable surge in global stock markets. Still, it failed to address persistent issues underlying these tariffs, including long-standing U.S. grievances about China’s state-led, export-focused economic model.
Adding to the complexities, a recent ruling from a U.S. trade court deemed that Trump overstepped his powers when imposing significant tariffs under emergency provisions. Yet, shortly after, a federal appeals court intervened, reinstating those tariffs while it examines the government’s appeal against the trade court’s decision. The appeals court has requested a response from the plaintiffs by June 5 and from the administration by June 9.
To summarize, anticipation builds around a potential conversation between Trump and Xi this week, as both nations navigate ongoing trade complexities amid tense relations over tariffs and exports. As discussions draw nearer, the economic implications continue to unravel, stressing the need for clarity on foundational trade issues. The recent court rulings further complicate the situation, reinforcing the volatility of the trade landscape between the U.S. and China.
Original Source: www.yahoo.com
