WASHINGTON: China is “very spoiled” by trade wins over America, US President Donald Trump said late Friday, as a top business delegation headed back to America after high-stakes talks with Beijing.
The two days of talks were aimed at forestalling momentum toward a looming conflict between the world’s two largest economies, with both sides prepared to pull the trigger on tariffs that could affect trade in billions of dollars of goods.
“Our high level delegation is on the way back from China where they had long meetings with Chinese leaders and business representatives,” Trump wrote in a tweet.
“We will be meeting tomorrow to determine the results, but it is hard for China in that they have become very spoiled with US trade wins,” he added.
The American president has accused China of unfair trade practices that have driven up the US goods deficit with the Asian giant. Washington has also alleged “theft” of American intellectual property by China.
The discussions promised a potential off-ramp for the trade conflict. Trump has threatened to levy new tariffs on $150 billion of Chinese imports while Beijing shot back with a list of $50 billion in targeted US goods.
“Both sides recognize there are still big differences on some issues and that they need to continue to step up their work to make progress,” China said in a statement released by the official Xinhua state news agency.
“The two sides exchanged views on expanding US exports to China, trade in services, bilateral investment, protection of intellectual property rights, resolution of tariffs and non-tariff measures.”
It added that they had reached “a consensus in some areas,” without elaborating. The agency said both sides had agreed to establish a “working mechanism” to continue talks.
Beijing has promised reform on several fronts in recent months — including lifting foreign ownership restrictions for automakers and allowing foreign investors to take controlling stakes in financial firms.
But a list of US demands presented at the talks in Beijing showed these steps fall far short of expectations in Washington.
The demands included cutting China’s trade surplus with the US by at least $200 billion by the end of 2020, lowering all tariffs to match US levels, eliminating technology transfer practices, and cutting off state support for some Chinese industries, according to Bloomberg News.
The White House called the discussions “frank” while making no mention of continuing the negotiations.
“There is consensus within the Administration that immediate attention is needed to bring changes to United States–China trade and investment relationship,” a White House statement said.
Trump says China ‘spoiled’ by trade wins over US
Trump says China ‘spoiled’ by trade wins over US
- The American president has accused China of unfair trade practices that have driven up the US goods deficit with the Asian giant.
- Beijing has promised reform on several fronts in recent months — including lifting foreign ownership restrictions for automakers and allowing foreign investors to take controlling stakes in financial firms.
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Saudi Arabia’s foreign reserves rise to a 6-year high of $475bn
RIYADH: Saudi Arabia’s foreign reserves climbed 3 percent month on month in January to SR1.78 trillion, up SR58.7 billion ($15.6 billion) from December and marking a six-year high.
On an annual basis, the Saudi Central Bank’s net foreign assets rose by 10 percent, equivalent to SR155.8 billion, according to data from the Saudi Central Bank, Argaam reported.
The reserve assets, a crucial indicator of economic stability and external financial strength, comprise several key components.
According to the central bank, also known as SAMA, the Kingdom’s reserves include foreign securities, foreign currency, and bank deposits, as well as its reserve position at the International Monetary Fund, Special Drawing Rights, and monetary gold.
The rise in reserves underscores the strength and liquidity of the Kingdom’s financial position and aligns with Saudi Arabia’s goal of strengthening its financial safety net as it advances economic diversification under Vision 2030.
The value of foreign currency reserves, which represent approximately 95 percent of the total holdings, increased by about 10 percent during January 2026 compared to the same month in 2025, reaching SR1.68 trillion.
The value of the reserve at the IMF increased by 9 percent to reach SR13.1 billion.
Meanwhile, SDRs rose by 5 percent during the period to reach SR80.5 billion.
The Kingdom’s gold reserves remained stable at SR1.62 billion, the same level it has maintained since January 2008.
Saudi Arabia’s foreign reserve assets saw a monthly rise of 5 percent in November, climbing to SR1.74 trillion, according to the Kingdom’s central bank.
Overall, the continued advancement in reserve assets highlights the strength of Saudi Arabia’s fiscal and monetary buffers. These resources support the national currency, help maintain financial system stability, and enhance the country’s ability to navigate global economic volatility.
The sustained accumulation of foreign reserves is a critical pillar of the Kingdom’s economic stability. It directly reinforces investor confidence in the riyal’s peg to the US dollar, a foundational monetary policy, by providing SAMA with ample resources to defend the currency if needed.
Furthermore, this financial buffer enhances the nation’s sovereign credit profile, lowers national borrowing costs, and provides essential fiscal space to navigate global economic volatility while continuing to fund its ambitious Vision 2030 transformation agenda.
