Despite recent signals from President Donald Trump suggesting progress toward a new trade deal with China, Beijing has poured cold water on the idea, telling CNBC on Thursday that “at present there are absolutely no negotiations on the economy and trade between China and the U.S.”
A spokesperson for China’s Ministry of Commerce went further, urging Washington to “cancel all the unilateral measures” if it wants to “resolve the problem,” according to the outlet. The official also said any claims of potential progress should be dismissed.
The firm denial comes just one day after President Trump told reporters he was optimistic about securing a “fair deal” with China, though he offered no timeline or specifics.
Furthermore, China’s Foreign Ministry Spokesperson Guo said: “China & the U.S. are not yet in talks on tariffs. If we must fight a tariff war, we will. Respect is the precondition for any talks.”
Trump has imposed tariffs of up to 145% on Chinese imports, a move that sparked a 125% retaliatory tariff from Beijing. Earlier this week, U.S. Treasury Secretary Scott Bessent admitted the tariff levels were “not sustainable” and said they would need to come down before talks could proceed — but he emphasized that Trump would not do so unilaterally.
Meanwhile, speaking at the White House, Trump reiterated his “America First” trade doctrine while teasing potential new tariff announcements. (Morw about:)
“TRUMP: IF WE DON’T REACH A DEAL WITH COUNTRIES, THEN IN THE NEXT 2 TO 3 WEEKS, WE WILL SET TARIFFS FOR THEM, INCLUDING CHINA.”
The contradictory messages now leave global markets and investors guessing — with hopes of de-escalation colliding head-on with renewed diplomatic stalemates.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Related:
Donald Trump to exempt carmakers from some US tariffs
EU slaps Apple and Meta with $800 million in antitrust fines. Meta calls its penalty a ‘tariff’
Tesla Earnings: Profit Plunges 71%, Elon Musk will step back from DOGE
Trump Says China Tariffs Will Be Lower, and ‘No Intention’ of Firing Powell
White House is ‘close’ on Japan, India tariff agreements — but expect them to be light on specifics
Bear Market Survival Guide: How to Stay Smart, Calm, and Positioned for the Rebound
OpenAI spends ‘tens of millions of dollars’ on people saying ‘please’ and ‘thank you’
The Role of Fiscal Dominance in Monetary Policy
US Imposes Tariffs Up to 3,521% on Asian Solar Imports
Authorities use high tech, called “Overwatch” to enhance border security
