President Donald Trump has reignited U.S.-China trade tensions, accusing Beijing of failing to uphold its end of a temporary trade agreement signed earlier this month.
Trump alleged that China had breached the deal that included a 90-day suspension on reciprocal tariffs, stating, “So much for being Mr. NICE GUY!”
The accusation triggered an immediate response from financial markets, with U.S. stock futures slipping early Friday amid renewed uncertainty surrounding global trade relations.
Adding to the cautious tone, Treasury Secretary Scott Bessent told Fox News on Thursday that negotiations with China were “a bit stalled,” despite the agreement reached on May 12, which aimed to deescalate the tariff conflict between the two economic superpowers.
The original deal followed a period of heightened trade friction, during which the Trump administration imposed steep tariffs on Chinese imports. Beijing responded with retaliatory measures, prompting a fragile truce that now appears to be unraveling.
With officials from both sides signaling frustration and markets reacting negatively, the risk of a re-escalation in trade tensions is once again in focus — raising questions about the future of global supply chains and investor sentiment heading into the summer.
