Trump tariffs live updates: Trump, Xi Jinping speak at last as US and China lean on key exports in trade fight
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Trump tariffs live updates: Trump, Xi Jinping speak at last as US and China lean on key exports in trade fight
President Trump and Chinese leader Xi Jinping spoke on Thursday. Both countries pledged to restart tariff and trade talks in the coming days. Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July. The US and China are also now using their control over certain key materials to gain control within the trade war.. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it.
Trump hailed the call as “positive,” with both leaders inviting the other to visit their respective countries. Chinese state media said Xi urged Trump to remove “negative” trade measures on his country.
The call came after weeks of Trump publicly pushing for the talk, as US-China tensions have risen in the aftermath of the countries’ trade truce reached in mid-May in Geneva. Both countries have accused the other of breaching that truce while ratcheting up pressure on other issues.
The US and China are also now using their control over certain key materials to gain control within the trade war. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it. Washington is now tightening control by requiring export licenses.
On Wednesday, a US auto parts group urged immediate action on one of those bubbly issues: China’s tighter controls on rare earth exports. The group warned the move could soon disrupt car production. China processes over 90% of these minerals, which are used in motors and cameras, among other things.
“There should no longer be any questions respecting the complexity of Rare Earth products,” Trump said Thursday.
Read more: What Trump’s tariffs mean for the economy and your wallet
Trump’s call with Xi came as the US is pushing countries to speed up trade talks. The White House confirmed that the US sent a letter to partners as a “friendly reminder” that Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July.
White House advisers have for weeks promised trade deals in the “not-too-distant future,” with the only announced agreement so far coming with the United Kingdom.
Also this week, effective Wednesday, June 4, Trump doubled tariffs on steel and aluminum from 25% to 50%
Meanwhile, Trump’s most sweeping tariffs face legal uncertainty after a federal appeals court allowed the tariffs to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation, deeming the method used to enact them “unlawful.”
Here are the latest updates as the policy reverberates around the world.
LIVE
1101 updates
Trump tariffs live updates: Trump, Xi Jinping speak at last as US and China lean on key exports in trade fight
President Trump and Chinese leader Xi Jinping spoke on Thursday. Both countries pledged to restart tariff and trade talks in the coming days. Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July. The US and China are also now using their control over certain key materials to gain control within the trade war.. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it.
Trump hailed the call as “positive,” with both leaders inviting the other to visit their respective countries. Chinese state media said Xi urged Trump to remove “negative” trade measures on his country.
The call came after weeks of Trump publicly pushing for the talk, as US-China tensions have risen in the aftermath of the countries’ trade truce reached in mid-May in Geneva. Both countries have accused the other of breaching that truce while ratcheting up pressure on other issues.
The US and China are also now using their control over certain key materials to gain control within the trade war. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it. Washington is now tightening control by requiring export licenses.
On Wednesday, a US auto parts group urged immediate action on one of those bubbly issues: China’s tighter controls on rare earth exports. The group warned the move could soon disrupt car production. China processes over 90% of these minerals, which are used in motors and cameras, among other things.
“There should no longer be any questions respecting the complexity of Rare Earth products,” Trump said Thursday.
Read more: What Trump’s tariffs mean for the economy and your wallet
Trump’s call with Xi came as the US is pushing countries to speed up trade talks. The White House confirmed that the US sent a letter to partners as a “friendly reminder” that Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July.
White House advisers have for weeks promised trade deals in the “not-too-distant future,” with the only announced agreement so far coming with the United Kingdom.
Also this week, effective Wednesday, June 4, Trump doubled tariffs on steel and aluminum from 25% to 50%
Meanwhile, Trump’s most sweeping tariffs face legal uncertainty after a federal appeals court allowed the tariffs to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation, deeming the method used to enact them “unlawful.”
Here are the latest updates as the policy reverberates around the world.
LIVE
1101 updates
Trump tariffs live updates: Trump, Xi Jinping speak at last as US and China lean on key exports in trade fight
President Trump and Chinese leader Xi Jinping spoke on Thursday. Both countries pledged to restart tariff and trade talks in the coming days. Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July. The US and China are also now using their control over certain key materials to gain control within the trade war.. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it.
Trump hailed the call as “positive,” with both leaders inviting the other to visit their respective countries. Chinese state media said Xi urged Trump to remove “negative” trade measures on his country.
The call came after weeks of Trump publicly pushing for the talk, as US-China tensions have risen in the aftermath of the countries’ trade truce reached in mid-May in Geneva. Both countries have accused the other of breaching that truce while ratcheting up pressure on other issues.
The US and China are also now using their control over certain key materials to gain control within the trade war. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it. Washington is now tightening control by requiring export licenses.
On Wednesday, a US auto parts group urged immediate action on one of those bubbly issues: China’s tighter controls on rare earth exports. The group warned the move could soon disrupt car production. China processes over 90% of these minerals, which are used in motors and cameras, among other things.
“There should no longer be any questions respecting the complexity of Rare Earth products,” Trump said Thursday.
Read more: What Trump’s tariffs mean for the economy and your wallet
Trump’s call with Xi came as the US is pushing countries to speed up trade talks. The White House confirmed that the US sent a letter to partners as a “friendly reminder” that Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July.
White House advisers have for weeks promised trade deals in the “not-too-distant future,” with the only announced agreement so far coming with the United Kingdom.
Also this week, effective Wednesday, June 4, Trump doubled tariffs on steel and aluminum from 25% to 50%
Meanwhile, Trump’s most sweeping tariffs face legal uncertainty after a federal appeals court allowed the tariffs to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation, deeming the method used to enact them “unlawful.”
Here are the latest updates as the policy reverberates around the world.
LIVE
1101 updates
Trump tariffs live updates: Trump, Xi Jinping speak at last as US and China lean on key exports in trade fight
President Trump and Chinese leader Xi Jinping spoke on Thursday. Both countries pledged to restart tariff and trade talks in the coming days. Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July. The US and China are also now using their control over certain key materials to gain control within the trade war.. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it.
Trump hailed the call as “positive,” with both leaders inviting the other to visit their respective countries. Chinese state media said Xi urged Trump to remove “negative” trade measures on his country.
The call came after weeks of Trump publicly pushing for the talk, as US-China tensions have risen in the aftermath of the countries’ trade truce reached in mid-May in Geneva. Both countries have accused the other of breaching that truce while ratcheting up pressure on other issues.
The US and China are also now using their control over certain key materials to gain control within the trade war. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it. Washington is now tightening control by requiring export licenses.
On Wednesday, a US auto parts group urged immediate action on one of those bubbly issues: China’s tighter controls on rare earth exports. The group warned the move could soon disrupt car production. China processes over 90% of these minerals, which are used in motors and cameras, among other things.
“There should no longer be any questions respecting the complexity of Rare Earth products,” Trump said Thursday.
Read more: What Trump’s tariffs mean for the economy and your wallet
Trump’s call with Xi came as the US is pushing countries to speed up trade talks. The White House confirmed that the US sent a letter to partners as a “friendly reminder” that Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July.
White House advisers have for weeks promised trade deals in the “not-too-distant future,” with the only announced agreement so far coming with the United Kingdom.
Also this week, effective Wednesday, June 4, Trump doubled tariffs on steel and aluminum from 25% to 50%
Meanwhile, Trump’s most sweeping tariffs face legal uncertainty after a federal appeals court allowed the tariffs to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation, deeming the method used to enact them “unlawful.”
Here are the latest updates as the policy reverberates around the world.
LIVE
1101 updates
Trump tariffs live updates: Trump, Xi Jinping speak at last as US and China lean on key exports in trade fight
President Trump and Chinese leader Xi Jinping spoke on Thursday. Both countries pledged to restart tariff and trade talks in the coming days. Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July. The US and China are also now using their control over certain key materials to gain control within the trade war.. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it.
Trump hailed the call as “positive,” with both leaders inviting the other to visit their respective countries. Chinese state media said Xi urged Trump to remove “negative” trade measures on his country.
The call came after weeks of Trump publicly pushing for the talk, as US-China tensions have risen in the aftermath of the countries’ trade truce reached in mid-May in Geneva. Both countries have accused the other of breaching that truce while ratcheting up pressure on other issues.
The US and China are also now using their control over certain key materials to gain control within the trade war. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it. Washington is now tightening control by requiring export licenses.
On Wednesday, a US auto parts group urged immediate action on one of those bubbly issues: China’s tighter controls on rare earth exports. The group warned the move could soon disrupt car production. China processes over 90% of these minerals, which are used in motors and cameras, among other things.
“There should no longer be any questions respecting the complexity of Rare Earth products,” Trump said Thursday.
Read more: What Trump’s tariffs mean for the economy and your wallet
Trump’s call with Xi came as the US is pushing countries to speed up trade talks. The White House confirmed that the US sent a letter to partners as a “friendly reminder” that Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July.
White House advisers have for weeks promised trade deals in the “not-too-distant future,” with the only announced agreement so far coming with the United Kingdom.
Also this week, effective Wednesday, June 4, Trump doubled tariffs on steel and aluminum from 25% to 50%
Meanwhile, Trump’s most sweeping tariffs face legal uncertainty after a federal appeals court allowed the tariffs to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation, deeming the method used to enact them “unlawful.”
Here are the latest updates as the policy reverberates around the world.
LIVE
1101 updates
Trump tariffs live updates: Trump, Xi Jinping speak at last as US and China lean on key exports in trade fight
President Trump and Chinese leader Xi Jinping spoke on Thursday. Both countries pledged to restart tariff and trade talks in the coming days. Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July. The US and China are also now using their control over certain key materials to gain control within the trade war.. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it.
Trump hailed the call as “positive,” with both leaders inviting the other to visit their respective countries. Chinese state media said Xi urged Trump to remove “negative” trade measures on his country.
The call came after weeks of Trump publicly pushing for the talk, as US-China tensions have risen in the aftermath of the countries’ trade truce reached in mid-May in Geneva. Both countries have accused the other of breaching that truce while ratcheting up pressure on other issues.
The US and China are also now using their control over certain key materials to gain control within the trade war. Bloomberg reported on Friday that the US dominates in ethane, a gas used to make plastics, and China buys nearly all of it. Washington is now tightening control by requiring export licenses.
On Wednesday, a US auto parts group urged immediate action on one of those bubbly issues: China’s tighter controls on rare earth exports. The group warned the move could soon disrupt car production. China processes over 90% of these minerals, which are used in motors and cameras, among other things.
“There should no longer be any questions respecting the complexity of Rare Earth products,” Trump said Thursday.
Read more: What Trump’s tariffs mean for the economy and your wallet
Trump’s call with Xi came as the US is pushing countries to speed up trade talks. The White House confirmed that the US sent a letter to partners as a “friendly reminder” that Trump’s self-imposed 90-day pause on sweeping “reciprocal” tariffs is set to expire in early July.
White House advisers have for weeks promised trade deals in the “not-too-distant future,” with the only announced agreement so far coming with the United Kingdom.
Also this week, effective Wednesday, June 4, Trump doubled tariffs on steel and aluminum from 25% to 50%
Meanwhile, Trump’s most sweeping tariffs face legal uncertainty after a federal appeals court allowed the tariffs to temporarily stay in effect, a day after the US Court of International Trade blocked their implementation, deeming the method used to enact them “unlawful.”
Here are the latest updates as the policy reverberates around the world.
LIVE
1101 updates