Trump says China is violating its trade agreement with the U.S.
Source: CBS News
Updated on: May 30, 2025 / 9:25 AM EDT
President Trump on Friday said that China is violating a trade agreement with the U.S., just weeks after the two countries agreed to a temporary but significant easing of tariffs imposed on each other's imports earlier in the year. Mr. Trump didn't specify in what way he believes China is violating the agreement. On May 12, the two nations committed to a 90-day suspension of most of the levies imposed since early April.
Under the agreement, the U.S. reduced tariffs on Chinese goods to about 30% from 145%, while China reduced its levies on American imports to 10%.
"I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn't want to see that happen. Because of this deal, everything quickly stabilized and China got back to business as usual," Mr. Trump wrote on Friday morning on his Truth Social app. He added, "The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!"
As part of the agreement, China also said it would also ease some nontariff barriers. That could include resuming export of rare earths to U.S. customers, High Frequency Economics said at the time. Rare earths, which are materials used in high-tech products such as computer chips and electric vehicle batteries, could be at the heart of Mr. Trump's complaint, said equities analyst Adam Crisafulli of Vital Knowledge on Friday.
Read more: https://www.cbsnews.com/news/trump-china-violating-trade-agreement-tariffs-truth-social/
= new reply since forum marked as read
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