'In grave economic danger...': Trump claims China backtracked on tariff pact, calls end to “Mr. NICE GUY” era

A volatile chapter in US-China trade relations reopened on May 30 as former President Donald Trump accused Beijing of breaching a critical agreement that had suspended mutual tariffs. Trump, who brokered the deal to ease escalating economic tensions, claimed China had “totally violated” the pact — and hinted at retaliation. His social media tirade sent US stock futures tumbling today.

On Truth Social, Trump asserted that China had betrayed the temporary truce. “Two weeks ago China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World,” he wrote.

Trump detailed the impact of those tariffs: “We went, in effect, COLD TURKEY with China, and it was devastating for them. Many factories closed and there was, to put it mildly, ‘civil unrest.’” He added that he had stepped in with a “FAST DEAL” to prevent the situation from deteriorating further. “Everybody was happy! That is the good news!!!”

But his tone shifted sharply. “The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!” he said.

The original agreement, reached May 12, established a 90-day pause on most tariffs between the two nations, following months of tit-for-tat levies initiated by Trump’s administration and mirrored by China.

Amid the unfolding tensions, a US trade court recently ruled that Trump had exceeded his authority in imposing tariffs on Chinese and other imports under emergency powers. That ruling, however, was paused by a federal appeals court the next day. The case remains active, with briefs from the plaintiffs due by June 5 and a response from the Biden administration expected by June 9.