China ‘not a reliable partner,’ Bessent warns ahead of trade talks originally appeared on TheStreet .
On Sunday, Bitcoin rose 0.21% to $104,751.18, with business remaining optimistic ahead of U.S. President Donald Trump's expected discussions with Chinese President Xi Jinping over trade disputes involving critical minerals.
Trump alleged Friday that China had violated a joint commitment to lessen tariffs and restrictions.
U.S. Treasury Secretary Scott Bessent confirmed the upcoming talks and said, "What China is doing is they are holding back products that are essential for the industrial supply chains of India, of Europe. And that is not what a reliable partner does," in an interview with CBS' Face the Nation.
Bitcoin also increased by 0.08% in the past hour since Bessent's comment.
Bessent also added, "I am confident that when President Trump and Party Chairman Xi have a call, this will be ironed out. But the fact that they are withholding some of the products that they agreed to release during our agreement - maybe it's a glitch in the Chinese system, maybe it's intentional. We'll see after the President speaks with the party chairman."
According to Reuters , Trump stated he was sure he would speak to Xi on Friday. In April, China said that leaders had not talked in a while. After a question regarding if talking to Xi was on Trump's agenda, Bessent said, "I believe we'll see something very soon."
White House economic advisor Kevin Hassett indicated that although there was no set date yet, informal conversations are being had in anticipation of a discussion between the two leaders regarding last month's Geneva agreement that referenced some tariff issues.
During the trade war, Bitcoin , which dominates the crypto market, rose to its all-time high at $$111,970.
As of covering this news and updating it, Bitcoin has already reached $105,082.28 , up by 0.33% in a day, as per Kraken . This shows investors' confidence in the asset amid trade talk uncertainties.
China ‘not a reliable partner,’ Bessent warns ahead of trade talks first appeared on TheStreet on Jun 1, 2025
This story was originally reported by TheStreet on Jun 1, 2025, where it first appeared.