U.S.-China trade talks are currently experiencing a stall, prompting calls for direct communication between the two nations’ leaders, according to Treasury Secretary Scott Bessent. He indicated that further discussions are anticipated in the coming weeks, potentially including a call between President Trump and Chinese President Xi Jinping. A breakthrough agreement was reached on May 12 in Switzerland, which involved rolling back recent tariff increases by over 100% for 90 days, although tensions remain high.
The U.S. is continuing its technology restrictions on China, which has frustrated Beijing. Additionally, China has not significantly relaxed its restrictions on rare earths, disappointing U.S. expectations. Bessent emphasized the complexity of the negotiations, noting that both leaders’ involvement would be essential to navigate the situation, especially given their previously established rapport.
Despite ongoing dialogue, China remains firm on specific issues. The Ministry of Commerce has urged the U.S. to rectify its practices concerning chip export controls and respects the consensus from the high-level talks in Geneva. When asked about the potential suspension of rare earth export controls, the Chinese spokesperson did not provide a clear answer, asserting that such restrictions align with international norms and contribute to regional stability.
Moreover, the U.S. has initiated a policy to revoke visas for Chinese students, which China’s Foreign Ministry condemned as unjustified, characterizing it as a misuse of ideological arguments and national security concerns. The overall atmosphere reflects significant discord between the two nations, with both sides holding firm on their positions while expressing a willingness to engage further.
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