US President Donald Trump has accused China of fully breaching the 90-day trade truce agreed upon just weeks ago in Geneva, raising questions about the deal’s durability.
A Brief Recap of the Trade Agreement
Announced on May 12, the deal significantly lowered tariffs: US duties on Chinese imports dropped from 145% to 30%, while China reduced tariffs on US goods from 125% to 10%. The Trump administration had praised this “asymmetric” agreement as a major US win.
Trump’s Take on the Deal
Trump described the agreement as a “fast deal” aimed at rescuing China from “grave economic danger” caused by his tariffs. He noted that the deal initially stabilized trade relations and benefited both sides. However, he added that China has now “totally violated” the agreement, signaling rising tensions and uncertainty.
What Comes Next?
With Trump’s recent claims, the future of the trade truce appears uncertain. Market watchers and policymakers will be closely monitoring upcoming developments.
Leave a Reply