BANGKOK, Thailand – China refuted claims by U.S. President Donald Trump on Thursday that the two nations were actively negotiating on tariffs. Ministry of Commerce spokesman He Yadong stated that any reports of progress in the trade discussions were baseless. Trump’s recent comments on a potential decrease in tariff rates had sparked speculation, but China maintained that consultations must be carried out with mutual respect and equality.
Trump had previously imposed tariffs of 145% on Chinese imports, prompting China to retaliate with tariffs of 125% on U.S. goods. Despite granting other countries a 90-day period to negotiate, China chose to escalate its own tariffs and implement additional economic measures in response. Beijing also indicated that any talks should involve the removal of existing tariffs it faces from the U.S.
He emphasized that the unilateral tariff actions were initiated by the United States and called for a complete cancellation of these measures for productive dialogue to occur. Despite the escalating trade tensions, Trump expressed a positive outlook on working with Chinese President Xi Jinping.
The ongoing trade dispute between the two countries has raised concerns about the impact on the global economy, with businesses and markets closely monitoring the developments. The uncertainty surrounding the negotiations has led to fluctuations in financial markets, as investors assess the potential consequences of the escalating trade war.
As both sides navigate the complexities of trade negotiations, the international community is watching closely to see how the situation unfolds. The differing approaches of the U.S. and China in handling the trade dispute have underscored the challenges of reaching a mutually beneficial resolution. With economic interests at stake, finding common ground through dialogue remains crucial for resolving the trade tensions between the two economic powerhouses.