The US president's comments were followed by claims by his commerce secretary that Beijing had been slow to implement the deal, which helped rally markets last month and fanned hopes for a lasting detente between the world's top economies.
Still, Treasury Secretary Scott Bessent -- who last week warned negotiations with China were "a bit stalled" -- said the US leader could speak with his Chinese counterpart Xi Jinping "very soon" in talks that could help break the impasse.
The latest salvos from the White House came as it faces a legal battle after a trade court on Wednesday blocked Trump's "Liberation Day" tariff blitz, saying he had overstepped his authority with the across-the-board taxes.
An appeals court gave the levies a stay of execution on Thursday but the wrangle could drag on, causing more uncertainty.
Trump said Friday he would jack up steel and aluminium to 50 percent, from 25 percent, which he said "will even further secure the steel industry".
He also claimed Beijing had "totally violated" last month's agreement with China to cut eye-watering tariffs for 90 days to hammer out a broader package.
Later, Commerce Secretary Howard Lutnick told "Fox News Sunday" that Beijing had been "slow-rolling the deal".
Chinese officials accused Washington of making "bogus charges and unreasonably accused China of violating the consensus, which is seriously contrary to the facts".
The developments have thrown the trade war back into the spotlight after tensions had eased following the China detente and indications that governments were working on deals with US officials.
"As we await whether the 90-day truce will result in a more permanent resolution, we are left wondering what may happen if progress stalls and the US and China are unable to make a deal," said Kai Wang, Asia equity market strategist at Morningstar.
"Trump is already making headlines again on reimposing EU tariffs.
"Should this happen with the EU or China, markets will likely crater again and will see much greater volatility given the heightened uncertainty with regard to global growth."
Asian markets sank Monday as investors brushed off data showing the Federal Reserve's favoured inflation gauge cooled more than expected last month.
Hong Kong was hit by selling in property firms fuelled by worries over the future of New World Development after it deferred interest payments on some bonds.
The firm is in the middle of a loan refinancing drive as it looks to raise more than US$11 billion from banks. Its struggles have revived fears about China's property sector as companies struggle to sell stock to help pay off their bulging debts.
Tokyo, Sydney, Singapore, Taipei, Mumbai and Jakarta also fell along with London, Paris and Frankfurt.
Seoul and Manila were marginally higher, while Shanghai was closed for a holiday.
Oil prices surged after OPEC and other key producers hiked output for July but less than expected, while geopolitical fears were ramped up after Ukraine hit air bases deep inside Russia, raising concerns over an escalation of the three-year war.
The dollar retreated against its peers on concerns about the US economy as Trump continues to push a bill to extend tax cuts and slash welfare spending, which observers say will add trillions to the already gargantuan national debt.
That has sent shivers through the Treasuries market, with yields pushing higher as investors seek out better returns for lending the government money.
Worries about US debt led Moody's to lower the United States last top-ranking credit rating, warning it expects US federal deficits to widen dramatically over the next decade.
Meanwhile, JPMorgan Chase chief executive Jamie Dimon voiced concern Sunday at the risk of a looming US debt market crisis sparked by Trump's policies.
"It's a big deal. It is a real problem," Dimon told Maria Bartiromo on FOX Business Network's "Mornings with Maria" show, according to an excerpt of the interview that will air in full Monday.
"The bond market is going to have a tough time. I don't know if it's six months or six years," he said.
US says trade row with China could ease after Trump-Xi talks
Washington (AFP) June 1, 2025 -
A logjam in the trade talks between the United States and China could be broken once Presidents Donald Trump and Xi Jinping speak, US officials said Sunday -- a conversation they said could happen soon.
Trump on Friday accused Beijing of violating a deal reached last month in Geneva to temporarily lower staggeringly high tariffs the world's two biggest economies had imposed on each other, in a pause to last 90 days.
China's slow-walking on export license approvals for rare earths and other elements needed to make cars and chips have fueled US frustration, The Wall Street Journal reported Friday -- a concern since confirmed by US officials.
But US Treasury Secretary Scott Bessent seemed to take the pressure down a notch on Sunday, telling CBS's "Face the Nation" that the gaps could soon be bridged.
"I'm confident that when President Trump and Party Chairman Xi have a call that this will be ironed out," Bessent said, however noting that China was "withholding some of the products that they agreed to release during our agreement."
When asked if rare earths were one of those products, Bessent said, "Yes."
"Maybe it's a glitch in the Chinese system. Maybe it's intentional. We'll see after the president speaks with" Xi, he said.
On when a Trump-Xi call could take place, Bessent said: "I believe we will see something very soon."
Kevin Hassett, director of the White House's National Economic Council told ABC that the call could happen "this week" but that he had no confirmation of a scheduled time.
Since Trump returned to the presidency, he has slapped sweeping tariffs on most US trading partners, with especially high rates on Chinese imports.
New tit-for-tat levies on both sides reached three digits before the de-escalation this month, where Washington agreed to temporarily reduce additional tariffs on Chinese imports from 145 percent to 30 percent.
China, meanwhile, lowered its added duties from 125 percent to 10 percent.
Commerce Secretary Howard Lutnick told "Fox News Sunday" that China was "slow-rolling the deal," adding: "We are taking certain actions to show them what it feels like on the other side of that equation."
"Our president understands what to do. He's going to go work it out," Lutnick said.
Lutnick also said that a US court battle over Trump's tariff strategy -- one court's ruling to block the tariffs has been stayed pending an appeal -- would ultimately end with a win for the president.
"Tariffs are not going away," Lutnick said.
- 'We've got to be ready' -
Separate from the China deal, Trump said Friday he would double sector-specific tariffs on steel and aluminum to 50 percent starting June 4 -- sparking ire from the European Union, which said it would retaliate.
Hassett said China's dumping of low-cost steel was hurting US industry -- which in turn was hindering US military preparedness.
"The bottom line is that we've got to be ready in case things don't happen the way we want, because if we have cannons but not cannonballs, then we can't fight a war," Hassett told "This Week."
"And if we don't have steel, then the US isn't ready, and we're not preparing ourselves for something," he added.
"We have to have a steel industry that's ready for American defense."
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