Prior to his decision to cut a deal earlier this month, US President Donald Trump claimed China was in “grave economic danger” and that it was breaking with it. He also claimed China was in “grave economic danger.”
Trump claimed in a statement on his Truth Social platform on Friday evening that he had reached a “fast deal” with China to renounce triple-digit tariffs for 90 days in order to “save” Beijing from a “very bad situation.”
The US leader claimed that the country’s closed factories and “civil unrest” were the result of his tariffs of up to 145 percent on Chinese imports, making it “virtually impossible” for China to trade with the US market.
“China has completely violated its agreement with us, which may surprise some people.” Thank you for being “Mr. NICE GUY”! Trump even flinched.
Trump did not specify in his post how China had violated the deal, which was reached following trade talks in Geneva, Switzerland, in mid-May, or what steps he would take to address their alleged failure to do so.
Trump responded to reporters’ questions about the China deal later on Friday in the Oval Office by saying, “I’m sure I’ll speak to [China’s] President Xi]Jinping], and hopefully we’ll work that out.”
Stephen Miller, Trump’s deputy chief of staff, stated to reporters that China’s failure to “accomplish its obligations opens up all avenues for the United States to ensure future compliance.”
Miller continued, adding that Trump hoped that China would “open up to American business” in a manner similar to how the US has done it for “a very long time now.”
Beijing and its US counterparts have communicated since the Geneva talks, according to China’s embassy in Washington, but they expressed concern about recently implemented US export controls.
According to Liu Pengyu, embassy spokesperson, “China has repeatedly expressed concerns with the US regarding its abuse of export control measures in the semiconductor sector and other related practices.”
China reiterated its support for the US to immediately correct its error, end discriminatory measures against China, and support the global consensus reached at the Geneva summit, Liu added.
broken promises
The Trump administration, according to earlier reports, had earlier ordered US companies that sell their services to Chinese companies.
The US Department of Commerce confirmed on Wednesday that it was reviewing exports of strategic significance to China and that it had “in some cases… suspended existing export licences or imposed additional licence requirements while the review is pending.”
President Trump also announced plans to raise steel import tariffs from 25% to 50% on June 4 after lamenting China’s inability to follow the Geneva agreement.
The timing of the deal, which effectively reduced US tariffs to the mid-teens from about 25% in early April, sparked a significant increase in global stocks two weeks prior.
China also agreed to end trade restrictions that prevent US semiconductor, electronics, and defense industries from producing critical metals as part of the deal.
However, Trump administration officials have publicly stated that China has yet to fulfill its obligations under the Geneva treaty.
Global auto executives are raising the alarm over a looming shortage of rare-earth magnets from China, which could cause car factories to shut down in the coming weeks, according to a report from the Reuters news agency on Friday.
Source: Aljazeera
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