Trump Eyes 'Fantastic Deal' Amid US-China Trade Tensions

President Donald Trump, asserting the United States' 'great respect' from Beijing, anticipates securing a 'fantastic deal' with Chinese President Xi Jinping. Amid tensions over Beijing's rare earth export controls, Trump remains confident about negotiations, leveraging tariffs to pressure China regarding the broader economic implications.

President Donald Trump expressed optimism on Monday about achieving a 'fantastic deal' with Chinese President Xi Jinping, amid heightened US-China trade tensions. Trump's comments came as Beijing expanded export controls on critical rare earth products, sparking concerns across various industries, including smartphones and electric vehicles.

The US President hosted Australian Prime Minister Anthony Albanese at the White House, lauding an alliance that could counter China's dominance in processing rare earth elements. Trump affirmed that a successful trade agreement with China would benefit both nations and the global economy, despite ongoing disputes over tariff threats.

Amidst the trade talks, China's top negotiator Li Chenggang was replaced, reflecting ongoing diplomatic and trade challenges. Meanwhile, further discussions are anticipated between US Treasury Secretary Scott Bessent and Chinese officials, aiming to stabilize trade relations and address contentious economic issues.

(With inputs from agencies.)