Just weeks ago, markets rejoiced as a de-facto trade embargo between the world’s two largest economies was called off — with US President Donald Trump declaring a “total reset” with China. Yet, the reality of that reset is starting to look awfully familiar.

U.S. Treasury Secretary Bessent expressed confidence that President Donald Trump and Chinese President Xi Jinping will soon speak to resolve escalating trade tensions, particularly surrounding critical minerals vital

US President Donald Trump signalled renewed trade tensions with China, arguing that China had "violated" a deal to de-escalate tariffs, at a time when both sides appeared deadlocked in negotiations.