U.S.-China Trade Talks Stall, Leaders ⁣may Need⁣ to Intervene

⁢ ⁣ Updated May 30, ⁢2025
‍

U.S.-China trade negotiations have hit a snag,according to Treasury Secretary Scott Bessent. He indicated in an interview that direct communication between the two countries’ leaders might be necessary to get things moving again.⁢ Bessent said further ⁢talks are expected in the coming⁢ weeks and a call ⁢between President donald Trump and President Xi Jinping ‍is possible.

Despite a breakthrough agreement ⁢in Switzerland on May 12, where ⁤both nations agreed to roll back ‍recent tariff increases for 90 days, tensions remain. The U.S. has continued to pursue tech ⁣restrictions on beijing, while China has not significantly eased restrictions on rare earths, contrary to U.S. expectations.These ongoing issues are⁣ impacting the progress of U.S.-China trade relations and the broader economic landscape.

Bessent emphasized the complexity of the discussions, ⁢stating that the ⁣magnitude of the talks requires⁢ both leaders to be involved. He expressed confidence that China will engage constructively once⁢ President Trump makes his preferences clear. The last conversation between Trump and Xi occurred in January, prior to TrumpS second term inauguration.

china’s Ministry of Commerce spokesperson⁤ He Yongqian confirmed that communication with the U.S. has continued as the Switzerland agreement. ⁣Though, she also addressed chip export controls, urging⁤ the U.S. to ⁤rectify its practices and uphold the consensus⁤ reached in Geneva. When questioned about rare earth export controls, He ⁣did⁣ not directly respond, stating that restrictions on dual-use items align with international practices and China’s commitment to global peace.