Trump claims meeting with China after Beijing denies any trade negotiations
Trump claims meeting with China after Beijing denies any trade negotiations
Trump insisted that a meeting with China had taken place regarding tariff negotiations, despite Beijing denying any such talks.
Investors, however, saw signs of a de-escalation in the trade war, as global stock markets recovered most of the losses in April.
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U.S. Treasury Secretary Scott Bessent declined to confirm direct tariff negotiations with China, suggesting that Beijing faces severe economic fallout if current trade barriers persist. Speaking to reporters, Bessent cited potential Chinese job losses in the millions and argued that the U.S. trade deficit puts pressure on China to act. While avoiding specifics on communications, he hinted at the unsustainable nature of Chinaâs tariff stance. Beijing denies ongoing talks. The standoff continues, clouded by diplomatic silence and sharp warnings of economic instability from Washington.
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President Trump spoke to China's Xi about the ongoing tariff battle, claiming both nations are in an escalating tit-for-tat trade war. While China has denied formal negotiations, Trump is confident that a deal is imminent in the coming weeks. He indicated a "number" that would make China comfortable, but the tariffs continue to cause market uncertainty and global recession fears. With China offering exemptions for critical goods, businesses hope these measures will ease tensions and stabilize supply chains. But, Beijing is prepared for a long-term fight if necessary.
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Tariff War: Treasury Secretary Scott Bessent addressed pressing concerns about supply chain shocks and progress on trade deals with key Asian allies. Amid declining Chinese cargo shipments, Bessent..
U.S. Treasury Secretary Scott Bessent has admitted that the ongoing tariff war with China, sparked by President Donald Trump's massive 245% tariffs, is "unsustainable."..
China is ramping up its trade war rhetoric with the U.S., urging President Trump to remove sweeping tariffs if the dispute is to be resolved. The Chinese Commerce Ministry emphasizes the need for..
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