Trump Claims China 'Totally Violated' Trade Agreement

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00:00Bloomberg's Mike Scheper joining us now to decipher what this Truth Social Post actually

00:04meant.

00:05Mike.

00:06Well, from reading the Truth Social Post, it's clear that the president is displeased with

00:11the progress in discussions with Beijing on getting to the next level of an agreement

00:16with China that would settle some of their differences on trade.

00:20But he did not elaborate on what had set him off.

00:23We did, however, get a clue from his top trade negotiator, Jameson Greer, who was interviewed

00:28on another network, CNBC, and told the audience there that, look, this is much more about

00:34the non-tariff barriers that China has put up and that they are slow walking in lowering.

00:42And he was referring specifically to curbs on exports to the U.S., rare earths and critical

00:48minerals and magnets used in high-tech products here in the U.S.

00:52And this was a key win for the U.S. in coming out of this discussion with China just a few

00:59weeks ago in Geneva.

01:00Remember, Beijing had imposed those curves in retaliation for U.S. export curves on

01:06semiconductors and on semiconductor manufacturing equipment as a way of retaliating against

01:12that.

01:12The Trump administration wants to see more progress more quickly on that front, and apparently

01:17they're not getting it.

01:18We have not heard yet back from the Chinese government, a call has gone to them after hours

01:24seeking their comment.

01:25So far, we have not heard back yet, Lisa.