Trump and Xi Jinping Likely to Speak This Week
White House Press Secretary Karoline Leavitt announced that U.S. President Donald Trump and Chinese President Xi Jinping are expected to have a conversation this week aimed at resolving ongoing trade tensions. This development follows Trump's recent accusations against China for breaching agreements related to tariff rollbacks and trade restrictions.
Trade Talks to Address Key Issues
U.S. Treasury Secretary Scott Bessent indicated that a call between the two leaders will occur "very soon." The discussion will focus on critical trade issues, including disputes over critical minerals and China's export restrictions on certain raw materials. These talks aim to clarify and advance the temporary trade agreement reached last month in Geneva.
Background on Recent Trade Developments
Bessent was instrumental in the Geneva negotiations that produced a temporary truce in the escalating trade war between the world’s two largest economies. The agreement, set for a 90-day period, involved rolling back tariffs that had previously surged to triple-digit rates. While the accord triggered a positive response in global stock markets, it left unchanged the fundamental disagreements driving the tariffs—mainly U.S. concerns over China’s state-led economic policies and export practices.
Legal Challenges Surrounding Tariffs
Recently, a U.S. trade court ruled that President Trump overstepped his authority when imposing the majority of these tariffs under emergency powers legislation. However, a federal appeals court quickly reinstated the tariffs, temporarily suspending the lower court’s decision to review the government’s appeal. The appeals court has set deadlines for responses from both plaintiffs and government officials, with deadlines on June 5 and June 9 respectively.
Outlook for Future Negotiations
Although no exact date has been confirmed for the Trump-Xi phone call, all indications suggest that high-level communication is imminent. This dialogue is expected to play a critical role in addressing unresolved trade conflicts and establishing a clearer framework for cooperation going forward.
