President Trump has confirmed that trade tensions with China are still 'heated' despite senior US officials saying there is still room to extend the current tariff pause.
Tensions have risen after China expanded controls on rare earth exports, followed by Trump's threat to raise tariffs by 100%. However, the two sides are still expected to meet in South Korea later this month.
Treasury Secretary Scott Bessent warned that the US could cut economic ties if Beijing continues to pressure global markets, but insisted Washington still prioritizes a diplomatic solution.
Meanwhile, global CEOs including Tim Cook are expected to meet with Chinese Vice Premier He Lifeng in Beijing to discuss investment and supply chains, amid new tariff pressure.
In other news, Trump announced that India has agreed to increase US oil imports and reduce its reliance on Russian oil, a move seen as strengthening US energy influence in Asia.
