Trump Says He Likes Xi Jinping Of China But Calls Him 'Very Tough' And 'Extremely Hard To Make A Deal With'

President Donald Trump posted on Truth Social that he likes “President XI of China, always have, and always will, but he is very tough, and extremely hard to make a deal with!” The statement comes as U.S.-China trade negotiations remain stalled despite a temporary truce reached in May.

What Happened: Treasury Secretary Scott Bessent described current trade discussions as “a bit stalled,” indicating that achieving a final agreement might require direct input from both Trump and Chinese President Xi Jinping.

China’s manufacturing sector has slipped into contraction, with the Caixin manufacturing purchasing managers index dropping to 48.3 in May from 50.4 in April. This marks the lowest level since September 2022, as tariff impacts continue weighing on the industry. New orders fell at the fastest rate in over two and a half years, according to Caixin Media Co. and S&P Global data.

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Why It Matters: Former White House Chief of Staff Mick Mulvaney expressed doubt about Trump’s ability to strike a deal with Xi, highlighting fundamental differences in their diplomatic approaches.

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The ongoing trade tensions have affected both economies. In the U.S., the ISM Manufacturing PMI slipped to 48.5% in May, indicating the sharpest contraction since late 2024. Chinese manufacturers face domestic economic pressures alongside trade uncertainties.

Wall Street has coined the “TACO” trade – “Trump Always Chickens Out” – where investors buy stocks after Trump’s tariff threats, expecting him to backtrack. Trump defended his tariff strategy during a White House briefing, citing previous successes with China and the European Union.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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