Donald Trump doubles foreign steel tariffs
When he visited the US steel facility in Pennsylvania, President Trump announced that he would double the tariff on foreign steel to 50%.
President Donald Trump and Chinese President Xi Jinping will speak quickly to resolve trade issues, including critical mineral disputes, Scott Bescent said on Sunday.
Trump on Friday accused China of violating an agreement with the US to mutually roll back tariffs and trade restrictions for key minerals.
“What China is doing is that they are holding back products that are essential to the industrial supply chain in India in Europe. That’s not something that a trusted partner does,” Bescent said in an interview with CBS’s “Face the Nation.”
“When President Trump and Party Speaker XI call, I’m sure this will be resolved. But the fact that they withhold some of the products they agreed to release during our agreement – maybe it’s a glitch in the Chinese system.
Trump said Friday he is sure he will talk to Xi. China said in April that the two leaders had not had a conversation recently.
When asked if a talk with XI was on Trump’s schedule, Bescent said, “I believe we’ll see something soon.”
White House economic adviser Kevin Hassett said there was no specific date for the conversation, but leaders are argued that they will talk about the Geneva deal on tariff disputes last month.
“I expect President Trump to have a great conversation this week about trade negotiations with President XI, and that’s what we expect,” Hassett said.
(Reporting by Doina Chiacu, Editing by Caitlin Webber and Nia Williams)
