Trump Tariffs Torch Chances of Meeting with China's Xi

With his storm of tariffs, President Donald Trump has torched ties with Beijing and likely wrecked any hope of meeting his counterpart Xi Jinping in the near term, analysts say. Brendan Smialowski / AFP/File
With his storm of tariffs, President Donald Trump has torched ties with Beijing and likely wrecked any hope of meeting his counterpart Xi Jinping in the near term, analysts say. Brendan Smialowski / AFP/File
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Trump Tariffs Torch Chances of Meeting with China's Xi

With his storm of tariffs, President Donald Trump has torched ties with Beijing and likely wrecked any hope of meeting his counterpart Xi Jinping in the near term, analysts say. Brendan Smialowski / AFP/File
With his storm of tariffs, President Donald Trump has torched ties with Beijing and likely wrecked any hope of meeting his counterpart Xi Jinping in the near term, analysts say. Brendan Smialowski / AFP/File

With his storm of tariffs on Chinese goods, US President Donald Trump has torched ties with Beijing and likely wrecked any hope of meeting his counterpart Xi Jinping in the near term, analysts say.

Since taking office in January, Trump's maelstrom of import duties against friend and foe alike has rattled diplomats and pushed global markets to the brink of financial meltdown, said AFP.

A screeching halt on further levies for most countries has calmed nerves -- for now at least -- but there has been no reprieve for China, accused by the US leader of trying to "screw" Washington.

Adding to the tensions, talks between the two superpowers on international issues like climate change and opioid addiction seem to have stalled.

"Under Trump, China-US ties have sunk to the worst state of affairs short of a fairly large armed conflict," Shi Yinhong, director of the Center for American Studies at Beijing's Renmin University of China, said.

"Trump has unsheathed his dagger against China at a speed that exceeded many people's imaginations," he said.

After a flurry of tit-for-tat hikes, the United States now charges tariffs of 145 percent on many products imported from China, with cumulative duties on some goods reaching a staggering 245 percent.

A furious Beijing has set a retaliatory toll of 125 percent on goods entering from the United States, and dismissed further rises as pointless.

US-China relations are in "effectively a state of economic war", Susan Thornton, who served as acting top US diplomat for East Asia during Trump's first administration, told AFP.

"China views Trump's stated intent to... erect a 'tariff wall against China' as illegal and an existential threat," Thornton, now a senior fellow at Yale's Paul Tsai China Center, said.

No backing down

Just a few weeks ago, multiple reports suggested Beijing and Washington were mulling a face-to-face meeting to coincide with the two leaders' birthdays in June.

But recent events have effectively left those plans dead in the water.

Trump's "rude and unreasonable" behavior has made any talks in the first half of the year "very unlikely", according to Wu Xinbo, director of the Center for American Studies at Shanghai's Fudan University.

Rosemary Foot, a professor and senior research fellow at Oxford University's politics and international relations department, said Beijing "would want to ensure that there would be some policy deliverables and Xi would be treated with respect".

Trump has approached the trade conflict with a typical mixture of flattery, denigration and bombast -- slamming China's "lack of respect" while hailing Xi as a "smart guy" and talking up a prospective trade deal.

Ali Wyne, a senior research and advocacy adviser focusing on US-China ties at the International Crisis Group think tank, said neither Trump nor Xi "will want to convey that he has yielded to the other".

The "likeliest impetus" for talks, he said, would be a scenario where both could claim victory -- Trump by his willingness to keep ratcheting up economic pressure, and Xi by showing China's resilience.

Rana Mitter, a professor of US-Asia relations at the Harvard Kennedy School, said a Trump-Xi summit was "still quite possible", citing the mercurial US leader's dizzying pivot from threatening war against North Korea in 2017 to meeting Kim Jong Un the following year.

"Beijing will not agree to meet if it looks as if they are conceding to the US, so behind-the-scenes diplomacy will likely be necessary," Mitter said.

Back door shut

Other analysts said Trump's fiery rhetoric and crippling tariffs had likely laid waste to backdoor talks.

Under his predecessor Joe Biden, Washington and Beijing maintained dialogue on the fentanyl crisis, climate change and other issues.

Those channels "are moribund now, as far as I can tell, and that makes it difficult to prepare the ground for such a summit", Oxford's Foot said.

Wu, of Fudan, said Trump's out-of-hand dismissal of Chinese efforts to curb fentanyl precursor exports and his climate change denial meant the space for lower-track dialogue "has, in practice, already disappeared".

In official pronouncements, China has mocked Trump's tariffs as a "numbers game" and a "joke" with no economic benefits.

Beijing has also sought to cast itself as a defender of fair trade and stability in the face of unwarranted US "bullying".

Experts said China may yet scent opportunity in the face of Trump's economic carnage.

"Trump's colossally ill-conceived mass alienation of other countries may mean more receptivity for China's outreach," said Yale's Thornton -- adding that Beijing was likely conducting "economic triage".



Russia Releases Video Footage to Challenge Kyiv Over Alleged Attack

A Russian service member stands next to the remains of a drone, which, according to the Russian Defense Ministry, was downed during the repelling of an alleged Ukrainian attack on the Russian presidential residence in the Novgorod Region, in an unknown location in Russia, in this still image from a video released December 31, 2025. (Russian Defense Ministry/Handout via Reuters)
A Russian service member stands next to the remains of a drone, which, according to the Russian Defense Ministry, was downed during the repelling of an alleged Ukrainian attack on the Russian presidential residence in the Novgorod Region, in an unknown location in Russia, in this still image from a video released December 31, 2025. (Russian Defense Ministry/Handout via Reuters)
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Russia Releases Video Footage to Challenge Kyiv Over Alleged Attack

A Russian service member stands next to the remains of a drone, which, according to the Russian Defense Ministry, was downed during the repelling of an alleged Ukrainian attack on the Russian presidential residence in the Novgorod Region, in an unknown location in Russia, in this still image from a video released December 31, 2025. (Russian Defense Ministry/Handout via Reuters)
A Russian service member stands next to the remains of a drone, which, according to the Russian Defense Ministry, was downed during the repelling of an alleged Ukrainian attack on the Russian presidential residence in the Novgorod Region, in an unknown location in Russia, in this still image from a video released December 31, 2025. (Russian Defense Ministry/Handout via Reuters)

Russia's defense ministry released video footage on Wednesday of what it said was a downed drone at a briefing intended to show Ukraine tried this week to attack a presidential residence and challenge Kyiv's denials that such an attack took place. 

Kyiv says Moscow has produced no evidence to support its allegations and that Russia invented the alleged attack to block progress at talks on ‌ending the war ‌in Ukraine. Officials in several ‌Western ⁠countries have ‌cast doubt on Russia's version of events and questioned whether there was any attack. 

Video footage released by Russia's defense ministry showed a senior officer, Major-General Alexander Romanenkov, setting out details of how Moscow says it believes Ukraine attacked one of President Vladimir Putin's residences in ⁠the Novgorod region. 

Romanenkov said 91 drones had been launched from Ukraine's Sumy ‌and Chernihiv regions in a "thoroughly ‍planned" attack that he said ‍was thwarted by Russian air defenses, caused ‍no damage and injured no one. 

The video released by the ministry included footage of a Russian serviceman standing next to fragments of a device which he said was a downed Ukrainian Chaklun-V drone carrying a 6-kg explosive device which had not detonated. 

The ministry did ⁠not explain how it knew what the device's target was. 

Speaking to Reuters, Ukrainian Foreign Ministry spokesperson Heorhii Tykhyi said the footage was "laughable" and that Kyiv was "absolutely confident that no such attack took place". 

Reuters could not confirm the location and the date of the footage showing fragments of a destroyed device. The model of the destroyed device could not be immediately verified. 

Other footage featured a man, identified as Igor Bolshakov from a ‌village in the Novgorod region, saying he had heard air defense rockets in action. 


China Slams Countries That Criticized Taiwan Drills as 'Irresponsible'

A screen broadcasting news about military drills conducted by China around Taiwan is seen on a street in Beijing, China, 30 December 2025. (EPA)
A screen broadcasting news about military drills conducted by China around Taiwan is seen on a street in Beijing, China, 30 December 2025. (EPA)
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China Slams Countries That Criticized Taiwan Drills as 'Irresponsible'

A screen broadcasting news about military drills conducted by China around Taiwan is seen on a street in Beijing, China, 30 December 2025. (EPA)
A screen broadcasting news about military drills conducted by China around Taiwan is seen on a street in Beijing, China, 30 December 2025. (EPA)

Beijing slammed on Wednesday countries including Japan and Australia for their "irresponsible" criticism of China's military drills in waters around Taiwan.

China launched missiles and deployed dozens of fighter jets, navy ships and coastguard vessels around the island on Monday and Tuesday in live-fire drills.

There has been a chorus of international criticism of China's drills, including from Japan, Australia and European countries.

Japan said Wednesday that China's exercises "increase tensions" across the Taiwan Strait, while Australia's foreign ministry condemned the "destabilizing" military drills.

The European Union on Tuesday said the military activity "endangers international peace and stability".

Beijing on Wednesday hit back at the remarks.

"These countries and institutions are turning a blind eye to the separatist forces in Taiwan attempting to achieve independence through military means," foreign ministry spokesman Lin Jian told reporters at a news briefing.

"Yet, they are making irresponsible criticisms of China's necessary and just actions to defend its national sovereignty and territorial integrity, distorting facts and confusing right and wrong, which is utterly hypocritical."

Lin said Beijing appreciated countries such as Russia, Pakistan and Venezuela expressing their support for China.

"We want to reiterate China's unwavering resolve for safeguarding national sovereignty, security and territorial integrity," he added.

"Any egregious provocative act that crosses the line on the Taiwan issue will be met with a firm counter from China."


Iran Appoints New Central Bank Governor After Record Currency Fall and Mass Protests

A person walks past a sign at a currency exchange, as the value of the Iranian rial drops, in Tehran, Iran, December 30, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
A person walks past a sign at a currency exchange, as the value of the Iranian rial drops, in Tehran, Iran, December 30, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
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Iran Appoints New Central Bank Governor After Record Currency Fall and Mass Protests

A person walks past a sign at a currency exchange, as the value of the Iranian rial drops, in Tehran, Iran, December 30, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters
A person walks past a sign at a currency exchange, as the value of the Iranian rial drops, in Tehran, Iran, December 30, 2025. Majid Asgaripour/WANA (West Asia News Agency) via Reuters

Iran on Wednesday appointed a new governor to the central bank after the former one resigned following a record currency fall against the US dollar that sparked large protests.

The plummeting of the rial, Iran's currency, sparked the largest protests in the country in three years, with rallies that began Sunday and continued until Tuesday.

A report by the official IRNA news agency said President Masoud Pezeshkian’s Cabinet appointed Abdolnasser Hemmati, a former economics minister, as new governor of the Central Bank of Iran. He replaces Mohammad Reza Farzin, who resigned on Monday.

Experts say a 40% inflation rate led to public discontent. The US dollar traded at 1.38 million rials on Wednesday, compared to 430,000 when Farzin took office in 2022.

Many traders and shopkeepers closed their businesses and took to the streets of Tehran and other cities to protest.

The new governor's agenda will included a focus on controlling inflation and strengthening the currency, as well as addressing the mismanagement of banks, the government’s spokeswoman Fatemeh Mohajerani wrote on X.

Hemmati, 68, previously served as minister of economic and financial affairs under Pezeshkian.

In March parliament dismissed Hemmati for alleged mismanagement and accusations his policies hurt the strength of Iran’s rial against hard currencies.

A combination of the currency's rapid depreciation and inflationary pressure has pushed up the prices of food and other daily necessities, adding to strain on household budgets already under pressure due to Western sanctions on Iran over its nuclear program.

Inflation is expected to worsen with a gasoline price change introduced in recent weeks.

Iran’s currency was trading at 32,000 rials to the dollar at the time of the 2015 nuclear accord that lifted international sanctions in exchange for tight controls on Iran’s nuclear program. That deal unraveled after President Donald Trump unilaterally withdrew the United States from it in 2018, during his first term.