Paulson Highlights US-China Economic Interdependence at Semafor Event Ahead of Trump-Xi Summit

S. S. Treasury Secretary Hank Paulson spoke at the Semafor World Economy event in Washington, DC on Tuesday. S. and China are in a period of mutually assured economic disruption. He said this situation provides stability due to the high cost of escalation for both sides.

Paulson added that a trust deficit exists between the two countries, which may exceed the trade deficit. S. and China through energy, financial stability, and economic growth. These comments were made via Semafor.

Trump to Travel to China for Summit with Xi Jinping President Donald Trump is planned to travel to China next month for a summit with Chinese President Xi Jinping.

The summit is set for May, according to Fox News. S. Ambassador to China David Perdue on Tuesday, as reported by Fox News. " These remarks were reported by the official Xinhua news agency.

U.S. launched a blockade of the Strait of Hormuz, according to Fox News.

China is the largest buyer of Iranian crude. " Guo Jiakun described the blockade as a dangerous and irresponsible move.

Tariff Reductions Hold After Temporary Rollback U.S.

tariffs on Chinese goods were lowered to around 30% after a temporary rollback. China's tariffs on American exports were lowered to roughly 10% following the same rollback. The temporary tariff rollback truce has held into 2026, as reported by Fox News.

U.S. duty-free.

Prior Meeting Between Trump and Xi in 2025 President Donald Trump met with Chinese President Xi Jinping on Oct.

30, 2025, in Busan, South Korea. This meeting occurred prior to the current tariff adjustments and the planned May summit.