Stocks dropped on May 30 after President Donald Trump accused China of violating its trade agreement with the US, adding to market volatility following a turbulent week of tariff developments. The Dow fell 130 points (0.3%), while the S&P 500 and Nasdaq Composite each declined by 0.35%.
"The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US," Trump wrote on social media. "So much for being Mr. NICE GUY!"
Trump’s remarks underscored the growing strain in US-China relations, which have steadily deteriorated over the past decade. While the rivalry today centers on technology and trade rather than military or ideological differences, the shift from cooperation to competition has reframed China as an adversary rather than a partner. Both nations are pushing their respective visions of governance, and, while multilateral collaboration could help ease tensions, the situation remains increasingly volatile.
Intrigued? Click on to find out more about the increasingly icy relations between these powerful nations.