Chinese President Xi Jinping (L) and U.S. President Donald Trump (R).
Fabrice Coffrini | Getty Images
President Donald Trump on Friday accused China of violating a preliminary trade agreement with the United States, and suggested he would take action in response.
“So much for being Mr. NICE GUY!” Trump wrote in a social media post that said China had reneged on a deal that paused retaliatory tariffs between that country and the U.S.
Stock futures fell Friday morning on the heels of Trump’s statement.
U.S. Trade Representative Jamieson Greer, in a CNBC interview Friday morning, echoed Trump’s allegation, saying “we’re very concerned with” China’s purported non-compliance with the temporary trade deal.
The “United States did exactly what it was supposed to do, and the Chinese are slow rolling their compliance,” said Greer.
He called that “completely unacceptable and has to be addressed.”
Treasury Secretary Scott Bessent, in a Fox News interview on Thursday, said that trade talks with China “are a bit stalled.”
The U.S. and China on May 12 agreed to a 90-day suspension on most tariffs imposed on each other’s imports.
The agreement was reached after Trump slapped sky-high tariffs on imports from China into the U.S., and China retaliated in kind.
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