From CNBC: 2025-05-29 21:49:00

U.S.-China trade talks have hit a snag, prompting the need for direct communication between leaders. Recent agreement in Switzerland had both countries agreeing to slash tariffs for 90 days. However, issues remain with tech restrictions and rare earths. President Trump may speak with President Xi, but China seeks assurance of no surprises.

The Trump administration announced plans to revoke Chinese student visas, sparking criticism from China for being “unjustified” and using ideology and national security as a pretext. China urges the U.S. to correct its practices and safeguard agreements from high-level talks. Subscribe for weekly insights from Asia’s largest economy.

Read more: U.S.-China talks ‘stalled’ and need Trump and Xi to weigh in, Bessent says