China has insisted it is not holding trade negotiations with the United States, despite President Donald Trump’s claim that he had received a call from Chinese leader Xi Jinping.
In an interview with Time magazine published Friday, Trump did not specify when the alleged conversation occurred or what was discussed, simply saying, “He’s called. And I don’t think that’s a sign of weakness on his behalf.”
China’s commerce ministry had already denied on Thursday that any talks were underway. On Saturday, Beijing’s embassy in Washington repeated that position in a statement posted on WeChat, saying, “there have been no consultations or negotiations between China and the United States on tariff issues, let alone any agreement.”
Without naming Trump or Xi directly, the embassy added that US suggestions of ongoing dialogue were “nothing but misleading,” and stressed, “This trade war was initiated by the US side. If the US truly wants to resolve the issue through dialogue, it must first correct its mistakes, stop threatening and pressuring others, and completely remove all unilateral tariff measures against China.”
The trade war between the world’s two largest economies has escalated sharply, with Trump imposing tariffs of up to 145% on Chinese goods, prompting retaliatory tariffs of 125% from China. Trump has suggested deals with various trading partners could be announced in the coming weeks, telling Time, “There’s a number at which they will feel comfortable. But you can’t let them make a trillion dollars on us.”
However, confusion reigns over the status of talks. Trump has said new tariffs will be set internally, yet he has also admitted it is “physically impossible” to hold all necessary meetings. Treasury Secretary Scott Bessent and Chinese officials have both said negotiations have not started.
The uncertainty is causing anxiety among businesses and foreign leaders alike. The Federal Reserve’s latest Beige Book reported a surge in business uncertainty, while finance ministers at the International Monetary Fund conference expressed frustration over the lack of clarity. Josh Lipsky from the Atlantic Council remarked, “There’s not a coherent strategy at the moment on what the tariffs are supposed to achieve.”
Other countries are trying to engage. Swiss President Karin Keller-Sutter said Switzerland had been assigned a contact person for privileged negotiations, while South Korea and the EU are also seeking tariff reductions. Meanwhile, US companies are already facing higher prices and falling imports. Ryan Petersen, CEO of Flexport, revealed ocean container bookings from China to the US were down over 60% industry-wide since tariffs took effect.
In an interview with Time magazine published Friday, Trump did not specify when the alleged conversation occurred or what was discussed, simply saying, “He’s called. And I don’t think that’s a sign of weakness on his behalf.”
China’s commerce ministry had already denied on Thursday that any talks were underway. On Saturday, Beijing’s embassy in Washington repeated that position in a statement posted on WeChat, saying, “there have been no consultations or negotiations between China and the United States on tariff issues, let alone any agreement.”
Without naming Trump or Xi directly, the embassy added that US suggestions of ongoing dialogue were “nothing but misleading,” and stressed, “This trade war was initiated by the US side. If the US truly wants to resolve the issue through dialogue, it must first correct its mistakes, stop threatening and pressuring others, and completely remove all unilateral tariff measures against China.”
The trade war between the world’s two largest economies has escalated sharply, with Trump imposing tariffs of up to 145% on Chinese goods, prompting retaliatory tariffs of 125% from China. Trump has suggested deals with various trading partners could be announced in the coming weeks, telling Time, “There’s a number at which they will feel comfortable. But you can’t let them make a trillion dollars on us.”
However, confusion reigns over the status of talks. Trump has said new tariffs will be set internally, yet he has also admitted it is “physically impossible” to hold all necessary meetings. Treasury Secretary Scott Bessent and Chinese officials have both said negotiations have not started.
The uncertainty is causing anxiety among businesses and foreign leaders alike. The Federal Reserve’s latest Beige Book reported a surge in business uncertainty, while finance ministers at the International Monetary Fund conference expressed frustration over the lack of clarity. Josh Lipsky from the Atlantic Council remarked, “There’s not a coherent strategy at the moment on what the tariffs are supposed to achieve.”
Other countries are trying to engage. Swiss President Karin Keller-Sutter said Switzerland had been assigned a contact person for privileged negotiations, while South Korea and the EU are also seeking tariff reductions. Meanwhile, US companies are already facing higher prices and falling imports. Ryan Petersen, CEO of Flexport, revealed ocean container bookings from China to the US were down over 60% industry-wide since tariffs took effect.
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