US President Donald Trump steps off Marine One upon arrival on the Leesburg Government Airport Touchdown Zone in Leesburg, Virginia, on April 24, 2025.
Alex Wroblewski | Afp | Getty Photographs
BEIJING — U.S. President Donald Trump on Thursday refuted China’s claims that there have been no ongoing commerce discussions between Beijing and Washington.
“That they had a gathering this morning … It would not matter who ‘they’ is. We could reveal it later, however they’d conferences this morning, and we have been assembly with China,” Trump advised reporters.
The assertion adopted China’s denial of any talks with the U.S. and requires abolishing “unilateral” tariff measures for resolving commerce points.
“At current there are completely no negotiations on the financial system and commerce between China and the U.S.,” Ministry of Commerce spokesperson He Yadong advised reporters in Mandarin, translated by CNBC. He added that “all sayings” relating to progress on bilateral talks must be dismissed.
“If the U.S. actually desires to resolve the issue … it ought to cancel all of the unilateral measures on China,” He mentioned.
Trump and Treasury Secretary Scott Bessent this week indicated that there may very well be an easing in tensions with China. The White Home earlier this month added 145% tariffs on Chinese language items, to which Beijing responded with duties of its personal and elevated restrictions on vital minerals exports to the U.S.
The Commerce Ministry’s feedback echoed these of Chinese language Overseas Ministry spokesperson Guo Jiakun, who mentioned on Thursday afternoon that there have been no ongoing talks, in line with state media.
Each spokespersons held to the official line that China could be keen to speak to the U.S. topic to Beijing being handled as an equal.
“China undoubtedly desires to see the commerce struggle deescalate, because it hurts each economies,” mentioned Yue Su, principal economist, China, at The Economist Intelligence Unit. “Nevertheless, as a result of inconsistency of Trump’s insurance policies and the shortage of readability round what he truly desires, China’s technique has shifted from specializing in ‘what you want’ to ‘what I would like.’ Their request for the U.S. to cancel ‘unilateral’ tariffs displays that shift.”
China earlier this week threatened countermeasures towards international locations that may make offers with the U.S. on the expense of Beijing’s pursuits.
“We additionally want to acknowledge that it is a ‘no matter it takes’ second for China when it comes to U.S.-China relations,” Su mentioned. “I would not be shocked if China adopts a extra hawkish stance if the U.S. continues to escalate tensions.”
A number of Wall Avenue banks have lower their China gross home product outlook in the previous few weeks in mild of the tariffs and escalating tensions with the U.S.
The Commerce Ministry on Thursday emphasised authorities and enterprise efforts to assist corporations promote items meant for exports to the Chinese language market as an alternative.
“From China’s perspective, any significant negotiations will seemingly require the US to scale back tariffs to the earlier 20% and even decrease degree,” mentioned Jianwei Xu, senior economist for Larger China, at Natixis.
“However for the Trump administration, nonetheless, decreasing tariffs too far might increase uncomfortable questions: What was the purpose of the confrontation if we find yourself again the place we began?”
The U.S. is China’s largest buying and selling companion on a single-country foundation. However within the final a number of years, Southeast Asia has surpassed the European Union to change into China’s largest buying and selling companion on a regional foundation.
Correction. Yue Su is principal economist, China, at The Economist Intelligence Unit. An earlier model misstated the identify of the group.
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