Trump Accuses China ff Violating Agreement He Did Not Adhere to
The U.S. President is performing one of his usual stunts:
Donald J. Trump @realDonaldTrump – May 30, 2025, 12:09 UTC
…
I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn’t want to see that happen. Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!
Trump’s take is, of course, nonsense. But to see that one has to take a step back.
Trump had raised absurdly high tariffs against China which then had responded in kind. Additional hostile measures imposed by the U.S. were targeting China’s import and production of semiconductors.
In response China limited the export of products for which it holds a monopoly. These are mainly rare-earth elements and magnets produced with them. While these are rather small items trade-wise they are needed to make modern electrical motors and are thus a significant part of the supply chain for higher level production items.
The high tariffs on products from China threatened to lead to empty shelves in U.S. markets. The financial markets were concerned. The U.S. dollar, stocks markets and treasuries decreased in price. A financial crisis was developing. Trump had to pull back.
On May 11 the U.S. and Chinese trade representative met in Geneva. In a Joint Statement they agreed on a pull back from high tariffs and to pause other trade related measures. The preamble of the deal is making the most important points:
The Government of the United States of America (the “United States”) and the Government of the People’s Republic of China (“China”),
Recognizing the importance of their bilateral economic and trade relationship to both countries and the global economy;
Recognizing the importance of a sustainable, long-term, and mutually beneficial economic and trade relationship;
Reflecting on their recent discussions and believing that continued discussions have the potential to address the concerns of each side in their economic and trade relationship; and
Moving forward in the spirit of mutual opening, continued communica
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