I like President Xi but he's extremely hard to make a deal with, says Donald Trump

I like President Xi but he's extremely hard to make a deal with, says Donald Trump

US President Donald Trump on June 4 said China's Xi Jinping is "very tough and extremely hard to make a deal with".

Trump's post on Truth Social comes ahead of a likely phone call with Xi later this week.

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

In a separate post, Trump claimed "United States had the best May in 30 years".

"THE UNITED STATES HAD THE BEST MAY IN 30 YEARS. MAKE AMERICA GREAT AGAIN!!!" he posted.

Markets are on edge ahead of a likely Trump-Xi call this week, after Trump accused China of violating an agreement to roll back tariffs. The talks come as trade tensions between the world's two largest economies continue to simmer.

The White House signaled that President Donald Trump will likely speak with Chinese counterpart Xi Jinping this week, days after Trump accused China of violating a Geneva agreement to roll back tariffs and trade restrictions.

Earlier, Trump administration has launched more measures to hurt China. China’s Foreign Minister Wang Yi this week used his first meeting with the new US Ambassador to China to complain about “unfounded” actions by Washington.

The text of the Geneva deal included a commitment by China to roll back countermeasures taken against the US since April 2, without specifying details. China launched export controls on seven types of rare earths from April 4 — applied to all shipments and not just for US-bound cargoes.

Shortages of the rare earths have already led to factory disruptions in the US and could be a major challenge for the country’s defense industry, which relies on small but powerful magnets made from rare earths.

The aggregate volume of futures on Chinese 10-year and 30-year government bonds both fell to their lowest levels since February on Tuesday, according to data from the onshore financial futures exchange. Open interest, or the amount of risk held by traders, has also declined, as participants refrain from placing directional bets on bond yields.

The indicators add to evidence that investors are uncertain about whether the potential upcoming call between Xi Jinping and Donald Trump will resolve tensions around issues including trade and student visas. Price swings in Chinese bond futures and cash notes have been subdued in recent sessions, even as global peers including Treasuries and Japanese government bonds saw outsized moves.

With inputs from Bloomberg