Trump Says Deal with Xi ‘Extremely Hard’ as Steel Tariffs Double

US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters)
US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters)
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Trump Says Deal with Xi ‘Extremely Hard’ as Steel Tariffs Double

US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters)
US President Donald Trump meets with China's President Xi Jinping at the start of their bilateral meeting at the G20 leaders summit in Osaka, Japan, June 29, 2019. (Reuters)

Donald Trump said Wednesday it was "extremely hard" to reach a deal with China, but EU and US officials touted progress in their own trade talks despite the US president doubling his metal tariffs. 

Trump's latest salvos came as ministers from Organization for Economic Cooperation and Development (OECD) countries gathered in Paris to discuss the outlook for the world economy in light of the trade war. 

Trump's sweeping tariffs on allies and adversaries have strained ties with trading partners and sparked a flurry of negotiations to avoid the duties. 

The White House has suggested that Trump will speak to Chinese President Xi Jinping this week, raising hopes they can soothe tensions and speed up a trade deal between the world's two biggest economies. 

However, early on Wednesday, Trump appeared to dampen hopes for a quick deal.  

"I like President XI of China, always have, and always will, but he is VERY TOUGH, AND EXTREMELY HARD TO MAKE A DEAL WITH!!!" he posted on his Truth Social platform.  

Asked about the remarks during a regular press briefing, Chinese foreign ministry spokesman Lin Jian said Beijing's "principles and stance on developing Sino-US relations are consistent."  

China was the main target of Trump's April tariff blitz, hit with levies of 145 percent on its goods and triggering tit-for-tat tariffs of 125 percent on US imports.  

Both sides agreed to temporarily de-escalate in May, after Trump delayed most sweeping measures on other countries until July 9.  

- US-EU talks 'advancing quickly' -  

Trump's latest remarks came hours after he increased his tariffs on aluminium and steel from 25 percent to 50 percent, raising temperatures with various partners while exempting Britain from the higher levy.  

In addition, EU goods will be hit with 50-percent tariffs on July 9 unless the 27-nation bloc reaches a deal with Washington. The EU has vowed to retaliate.  

US Trade Representative Jamieson Greer said after talks with EU counterpart Maros Sefcovic in Paris that the negotiations were "advancing quickly."  

Greer said the meeting was "very constructive and indicates a willingness by the EU to work with us to find a concrete way forward to achieve reciprocal trade."  

Sefcovic said the doubling of metal tariffs "doesn't help the negotiations" but the two sides were nonetheless "making progress" in their negotiations.  

"We did very much focus on these negotiations, and I still believe in them," Sefcovic said at a news conference after meeting Greer on the sidelines of the OECD gathering in Paris.  

He said he was optimistic that a "positive result" could be reached.  

The US-EU meeting took place a day after the OECD cut its forecast for global economic growth, blaming Trump's tariff blitz for the downgrade. 

"We have to keep our cool and always show that the introduction of these tariffs is in no one's interest," French trade minister Laurent Saint-Martin said.  

After talks between UK Trade Secretary Jonathan Reynolds and Greer on Tuesday, London said that imports from the UK would remain at 25 percent for now. Both sides needed to work out duties and quotas in line with the terms of a recently signed trade pact.  

"We're pleased that as a result of our agreement with the US, UK steel will not be subject to these additional tariffs," a British government spokesperson said.  

- White House wants offers -  

Mexico will request an exemption from the higher tariff, Economy Minister Marcelo Ebrard said, arguing that it was unfair because the United States exports more steel to its southern neighbor than it imports.  

"It makes no sense to put a tariff on a product in which you have a surplus," Ebrard said.  

Mexico is highly vulnerable to Trump's trade wars because 80 percent of its exports go to the United States, its main partner.  

While some of Trump's most sweeping levies face legal challenges, they have been allowed to remain in place for now as an appeals process takes place.  

White House press secretary Karoline Leavitt confirmed on Tuesday that the Trump administration sent letters to governments pushing for offers by Wednesday as the July 9 deadline approaches. 



World Bank, IAEA to Cooperate on Nuclear Power Development, Safety

International Atomic Energy Agency (IAEA) Director General Rafael Grossi arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris, France, June 25, 2025. REUTERS/Gonzalo Fuentes
International Atomic Energy Agency (IAEA) Director General Rafael Grossi arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris, France, June 25, 2025. REUTERS/Gonzalo Fuentes
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World Bank, IAEA to Cooperate on Nuclear Power Development, Safety

International Atomic Energy Agency (IAEA) Director General Rafael Grossi arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris, France, June 25, 2025. REUTERS/Gonzalo Fuentes
International Atomic Energy Agency (IAEA) Director General Rafael Grossi arrives for a meeting with French President Emmanuel Macron at the Elysee Palace in Paris, France, June 25, 2025. REUTERS/Gonzalo Fuentes

The World Bank and the United Nations nuclear watchdog on Thursday launched a new agreement to cooperate on the safe development and financing of nuclear power for developing countries, including extending the life of existing reactors.

World Bank President Ajay Banga and International Atomic Energy Agency Director General Rafael Grossi were due to sign the memorandum of understanding in Paris that is part of the bank's return to nuclear energy financing.

According to Reuters, he IAEA and the World Bank said in a statement that they agreed to work together to build knowledge in the nuclear field, including expanding the World Bank Group's understanding of nuclear safety, security, energy planning, and waste management.

The institutions also said they would work together to extend the lifespan of existing nuclear power plants as a cost-effective source of low-carbon power and accelerate the development of small modular reactors, saying that they have potential for widespread adoption in developing countries.

In prepared remarks, Banga said that reliable baseload power provided by nuclear energy was essential for job-generating sectors such as infrastructure, agribusiness, health care, tourism and manufacturing.

"Jobs need electricity. So do factories, hospitals, schools, and water systems. And as demand surges — with AI and development alike — we must help countries deliver reliable, affordable power," Banga said.

"That's why we're embracing nuclear energy as part of the solution — and re-embracing it as part of the mix the World Bank Group can offer developing countries to achieve their ambitions."

Grossi said that the "landmark" agreement was "a sign of the world's return to realism on nuclear power" and would open the door for other multilateral development banks and private investors to consider nuclear power as a viable tool for energy security.

He called the partnership a "crucial first step" to clearing the financing path for small modular reactor technology, which has the potential to cleanly power developing economies.