financetom
Business
financetom
/
Business
/
Trump says China has 'totally violated' Geneva deal with US on tariffs
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Trump says China has 'totally violated' Geneva deal with US on tariffs
May 30, 2025 7:33 AM

WASHINGTON (Reuters) -U.S. President Donald Trump on Friday said China had violated an agreement with the U.S. to mutually roll back tariffs and trade restrictions for critical minerals and issued a new veiled threat to get tougher with Beijing.

"China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!," Trump said in a post on his Truth Social platform.

Trump said that he made a "fast deal" in mid-May with Chinese officials for both countries to back away from triple-digit tariffs for 90 days. He said he did this to save China from a "devastating" situation, factory closings and civil unrest caused by his tariffs of up to 145% on Chinese imports.

Trump's message did not specify how China had violated the agreement made in Geneva, Switzerland and what action he would take against Beijing.

But a U.S. official told Reuters said it appears China was moving slow on promises to issue export licenses for rare earth minerals.

U.S. Trade Representative Jamieson Greer also told CNBC that China was not in compliance with the Geneva deal, adding: "The Chinese are slow-rolling their compliance, which is completely unacceptable and it has to be addressed."

Greer said the flow of critical minerals from China, which had been cut off by Chinese trade countermeasures, has not resumed as called for by the Geneva agreement.

A spokesperson for China's embassy in Washington did not immediately respond to a request for comment.

Spokespersons for the White House, the U.S. Treasury and the U.S. Trade Representative's Office also did not respond to requests for comment.

On Thursday, Treasury Secretary Scott Bessent told Fox News Channel that U.S. trade talks with China were "a bit stalled" and getting a deal over the finish line will likely need the direct involvement of Trump and Chinese President Xi Jinping.

Two weeks after breakthrough negotiations that resulted in a temporary truce in the trade war between the world's two biggest economies, Bessent said progress since then has been slow, but said he expects more talks in the next few weeks.

The U.S.-China agreement to dial back triple-digit tariffs for 90 days prompted a massive relief rally in global stocks. But it did nothing to address the underlying reasons for Trump's tariffs on Chinese goods, mainly longstanding U.S. complaints about China's state-dominated, export-driven economic model, leaving those issues for future talks.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Trade Desk Insider Sold Shares Worth $14,725,500, According to a Recent SEC Filing
Trade Desk Insider Sold Shares Worth $14,725,500, According to a Recent SEC Filing
Aug 15, 2024
04:14 PM EDT, 08/15/2024 (MT Newswires) -- Kathryn E Falberg, Director, on August 13, 2024, sold 150,000 shares in Trade Desk ( TTD ) for $14,725,500. Following the Form 4 filing with the SEC, Falberg has control over a total of 146,910 shares of the company, with 96,910 shares held directly and 50,000 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1671933/000167193324000092/xslF345X03/wk-form4_1723752513.xml Price: 100.21,...
Regeneron Pharmaceuticals Insider Sold Shares Worth $7,337,505, According to a Recent SEC Filing
Regeneron Pharmaceuticals Insider Sold Shares Worth $7,337,505, According to a Recent SEC Filing
Aug 15, 2024
04:08 PM EDT, 08/15/2024 (MT Newswires) -- Andrew J Murphy, Executive Vice President, Research, on August 13, 2024, sold 6,363 shares in Regeneron Pharmaceuticals ( REGN ) for $7,337,505. Following the Form 4 filing with the SEC, Murphy has control over a total of 52,632 shares of the company, with 48,306 shares held directly and 4,326 controlled indirectly. SEC Filing:...
Corning Insider Sold Shares Worth $710,505, According to a Recent SEC Filing
Corning Insider Sold Shares Worth $710,505, According to a Recent SEC Filing
Aug 15, 2024
04:15 PM EDT, 08/15/2024 (MT Newswires) -- Stefan Becker, Senior Vice President, Finance & Controller, on August 14, 2024, sold 17,983 shares in Corning (GLW) for $710,505. Following the Form 4 filing with the SEC, Becker has control over a total of 26,737 shares of the company, with 26,737 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/24741/000112760224022243/xslF345X03/form4.xml Price: 40.26, Change: -0.01, Percent...
BRIEF-Mawson Finland Closes IPO, Announces Listing On TSXV
BRIEF-Mawson Finland Closes IPO, Announces Listing On TSXV
Aug 15, 2024
Aug 15 (Reuters) - Mawson Finland Ltd: * MAWSON FINLAND CLOSES IPO AND ANNOUNCES LISTING ON TSXV Source text for Eikon: Further company coverage: ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved