US-China Trade Truce Cracks_ Accusations Fly, Talk

Name: US-China Trade Truce Cracks_ Accusations Fly, Talk
Uploaded: 2025-06-18T00:58:02+00:00
Duration: 1 min 58 s
Channel: Money Explainers
Description: The fragile trade truce is crumbling! Both sides accuse each other of violations. What's next for the world's two largest economies? Will Trump and Xi talk this week? Get the latest on the high-stakes discussions aimed at resolving mounting trade tensions.China accused of withholding critical products, fueling trade war fears. Understand the implications for international supply chains.

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The fragile trade truce is crumbling! Both sides accuse each other of violations. What's next for the world's two largest economies? Will Trump and Xi talk this week? Get the latest on the high-stakes discussions aimed at resolving mounting trade tensions.China accused of withholding critical products, fueling trade war fears. Understand the implications for international supply chains.

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00:00The delicate trade truce between the United States and China is showing significant cracks,

00:06casting doubt on the prospects of a larger, more comprehensive trade deal.

00:11While a temporary agreement struck in Geneva in May saw both nations lower tariffs,

00:16the U.S. reducing duties on Chinese goods from 145% to 30%,

00:22and China lowering its retaliatory tariffs on U.S. goods from 125% to 10%.

00:30The recent rhetoric suggests a rapid deterioration of relations.

00:35Both sides have now accused each other of violating the terms of that truce.

00:41President Trump claimed China had totally violated its agreement,

00:45with Trade Representative Jameson Greer specifying China's failure to remove non-tariff barriers.

00:51Beijing, in turn, charged the U.S. with severely violating the agreement,

00:57citing actions such as blocking computer chip design software sales to Chinese companies,

01:02issuing warnings against using chips made by Huawei, and cancelling visas for Chinese students.

01:09Despite these escalating tensions, top White House officials remain optimistic about future dialogue.

01:16Treasury Secretary Scott Besant indicated that details of a trade deal

01:20would be ironed out once Chinese President Xi Jinping and Trump speak,

01:24though no exact date for this conversation has been set.

01:29Besant also accused China of holding back products that are essential for the industrial supply chains of India,

01:35of Europe, describing it as unreliable partner behavior.

01:40National Economic Council Director Kevin Hassett added that both leaders are expected to talk this week,

01:46with both sides have Ng expressed a willingness to talk.

01:50The path to a stable, long-term trade agreement remains uncertain,

01:54highlighting the extreme fragility of the current truce.

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