On Monday, China accused the U.S. of violating a 90-day trade truce established to ease ongoing tariff conflicts between the two nations, which had escalated to over 100%. President Trump recently claimed that China “totally violated” this agreement, prompting a strong response from the Chinese Ministry of Commerce. The ministry stated that China had upheld its commitments under the truce, while the U.S. had introduced restrictive measures—such as AI chip export controls and visa revocation plans for Chinese students—that undermined the agreement. They labeled Trump’s accusations as a distortion of facts and urged the U.S. to rectify its actions.
U.S. Treasury Secretary Scott Bessent alleged that China was withholding rare earth exports promised in the truce, which he described as uncharacteristic behavior for a reliable partner. Rare earth elements are vital for various sectors, including technology and energy, with China supplying 60% of the world’s needs. Bessent noted that trade discussions had stalled but expressed confidence that specifics, including rare earth exports, could be resolved in an anticipated call between Trump and Chinese President Xi Jinping.
Kevin Hassett, director of the National Economic Council, also indicated that the two leaders might converse soon. He mentioned the importance of the discussion for advancing trade negotiations, although no specific date had been set. The last known communication between the two presidents took place on January 17, shortly before Trump took office. The escalating tension reflects ongoing complexities in the U.S.-China trade relationship amidst broader geopolitical dynamics.
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