Trump said the two sides are discussing trade. A Chinese official called it «fake news.»
The outlook of an all-out trade war between the U.S. and China remains a central question for the global economy, but the two sides appear to disagree even about whether talks have begun.
President Donald Trump late Wednesday said the world’s two largest economies are “actively” discussing trade issues.
Hours later, Chinese Foreign Ministry Spokesperson Guo Jaikun contradicted Trump’s account, dismissing it as “fake news.” The two sides have not discussed tariffs, Guo said.
Soon afterward, Trump reaffirmed his view, telling reporters that representatives of the two countries had met as recently as Thursday morning. When asked to identify the representatives involved, Trump declined to say.
The trade spat escalated earlier this month when Trump hiked tariffs on Chinese goods to a whopping 145%. China responded with 125% tariffs on U.S. goods and other countermeasures.
“This is a game of chicken,” Yasheng Huang, professor of global economics and management at MIT, .
Here’s what to know about where U.S.-China trade talks stand and how experts characterize the impasse:What is the Trump administration saying about U.S.-China trade talks?
Multiple top Trump administration officials this week offered accounts of U.S.-China trade relations, striking different postures toward China.
In an apparent softening of his stance, Trump said Tuesday that tariffs on China would «come down substantially.»
«145% is very high and it won’t be that high. It won’t be anywhere near that high», Trump told reporters at the White House. «But it won’t be zero.»
A day later, White House press secretary Karoline Leavitt offered additional context on such plans, firming up the U.S. position. There would be «no unilateral reduction» in tariffs, Leavitt said.
Meanwhile, Treasury Secretary Scott Bessent on the same day referred to a prospective U.S.-China trade agreement as “an opportunity for a big deal.
