U.S.-China trade negotiations are currently experiencing a stall, prompting Treasury Secretary Scott Bessent to suggest that direct communication between the two countries’ leaders might be necessary. Bessent expressed optimism about upcoming talks, potentially including a call between President Trump and Chinese President Xi Jinping. A recent agreement reached on May 12 in Switzerland had seen the two nations deciding to roll back some of their steep tariffs for a limited period. However, despite this progress, the U.S. has continued to impose technology restrictions on China, leading to further tensions, while China has not significantly lifted its restrictions on rare earth exports.
Bessent emphasized that the complexities of the discussions necessitate intervention from both leaders, who have a strong rapport. Trump has indicated a desire to speak with Xi, but analysts suggest China’s agreement to such a call hinges on the assurance of no unexpected developments from the U.S.
Communication has continued since the Swiss agreement, though China’s Ministry of Commerce has urged the U.S. to rectify its policies on chip export controls to uphold their previous consensus. In terms of rare earth exports, China has refrained from giving a clear response regarding the suspension of controls, framing its regulations as aligned with international standards and aimed at maintaining global stability.
Moreover, the Trump administration has initiated steps to revoke visas for Chinese students, which has been condemned by the Chinese Foreign Ministry as an unjust move under the guise of national security and ideology. The growing trade tensions and diplomatic strains highlight the ongoing complexities of U.S.-China relations.
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