President Trump just announced this morning that he’s not going to be “Mr. Nice Guy” with China any longer, in terms of their trade agreement.

He says they “totally violated” their agreement with the US, despite him trying to halt their economic backlash to the tariffs he implemented.

Here’s what he said:

Two weeks ago China was in grave economic danger! The very high Tariffs I set made it virtually impossible for China to TRADE into the United States marketplace which is, by far, number one in the World. We went, in effect, COLD TURKEY with China, and it was devastating for them. Many factories closed and there was, to put it mildly, “civil unrest.” I saw what was happening and didn’t like it, for them, not for us. I made a FAST DEAL with China in order to save them from what I thought was going to be a very bad situation, and I didn’t want to see that happen. Because of this deal, everything quickly stabilized and China got back to business as usual. Everybody was happy! That is the good news!!! The bad news is that China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!

Bessent said yesterday that Trump was going to have to get involved because the talks with China had stalled. Hopefully he and President Xi can bring this to resolution before it effect prices too much.