A Chat Between Trump and Xi Amid Trade Tensions
U.S. President Donald Trump and Chinese President Xi Jinping engaged in a phone conversation while grappling with ongoing trade disputes between their respective nations.
Here's a rundown of the latest happening between U.S. President Donald Trump and Chinese leader Xi Jinping, who had a chat on Thursday, sparking a bit of buzz in the global trade circuit.
The Trump-Xi Conversation
According to Chinese news agency Xinhua, the conversation between the two leaders happened "at the behest" of Trump, with no further details provided. The White House seemed to hint at the call by indicating that Trump would indeed speak with Xi.
In a unexpected move just before the call, Trump declared it "difficult to reach an agreement with Xi" on his social media. However, he did express his fondness for the Chinese leader, stating he "likes President Xi of China."
The U.S.-China Trade Standoff
The trade talks between the U.S. and China have hit a snag, not long after the agreement on May 12 that aimed to reduce tariffs while negotiations continued. It appears the ongoing contest for economic dominance is the root cause of the stalemate.
Trump argues that China has "totally violated" the agreed-upon terms to ease tensions. On the other hand, China blames the U.S. for implementing "discriminatory restrictive measures," including the revocation of student visas for Chinese students in the States.
A History of Scant Contact
Before their latest conversation, Trump and Xi had not had any confirmed contact in over five months. This defies Trump's frequent claims that such a call was imminent. In April, Trump stated that Xi had called him, but Beijing maintained that there had been no recent contact.
China Slams U.S. Steel and Aluminum Tariffs
Prior to the news about the Trump-Xi conversation, China criticized the new tariffs on steel and aluminum imports that Trump announced on Wednesday. The Chinese Ministry of Commerce stated that these new tariffs would "seriously disrupt the stability of global supply chains."
He Yongqian, the ministry's spokesman, added that the measure is a violation of World Trade Organization rules and urged the U.S. to abandon protectionist attitudes and work with other nations to preserve a multilateral trade system.
Take note that China is the world's largest steel exporter, while the U.S. imports less than 2% of its steel from China. Similarly, the U.S. imports only around 3% of its aluminum from China. Despite these relatively low figures, the new tariffs could have a significant impact on global supply chains.
Related Topics
Donald Trump
Xi Jinping
China
United States
Trade War
Tariffs
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Enrichment Data Insights:
- Despite some cooperative gestures, deep-seated tensions between the U.S. and China continue to fuel selective decoupling, which poses a threat to global economic stability.
- The temporary nature of the tariff reductions and ongoing tensions may cause uncertainty among businesses and investors, potentially affecting trade confidence and investment decisions.
- The recent agreement only offers temporary relief and underscores the complexity and volatility of U.S.-China trade relations, which remain a crucial factor in global economic dynamics.
What was the focus of conversation between Donald Trump and Xi Jinping amid trade tensions, as reported by Xinhua? It appeared to be related to policy-and-legislation and politics, specifically war-and-conflicts and general-news surrounding the ongoing US-China Trade War.
In the recent global general news, China has slammed US steel and aluminum tariffs, expressing concerns about their impact on world supply chains and multilateral trade, demonstrating the ongoing war-and-conflicts and politics between the two nations.
