In a sign of rising tensions and trade disagreements between the two countries, President Trump took to Truth Social this morning to issue a heated post against China. Trump started off by saying that the U.S. had signed a “FAST DEAL” with China because he saw how badly the U.S.’ tariffs were affecting them. However, China has now “TOTALLY VIOLATED ITS AGREEMENT WITH US.”
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USTR Greer Details China’s “Unacceptable” Actions
The President didn’t specify exactly what China did to violate its agreement with the U.S. Still, U.S. Trade Representative Jamieson Greer said that the country has been slow to remove some tariff countermeasures, characterizing it as “completely unacceptable” in an interview with CNBC’s “Squawk Box.” He added that China has slowed down its flow of critical minerals, which the U.S relies heavily on. The U.S. had a $295.40 billion goods trade deficit with China in 2024.
The S&P 500 (SPX) is trading lower in the premarket as the market digests the news.
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