Johannes Neudecker/picture alliance via Getty Images
Bejing is throwing cold water on President Donald Trump’s hopes for lessening tensions between the world’s two largest economies, whose trade war has roiled global markets.
On Wednesday, Trump told reporters that the two sides were “actively” talking. On Thursday, a Chinese foreign ministry spokesperson said conversations had yet to begin.
“None of that is true,” Spokesperson Guo Jiakun told reporters during the Foreign Ministry’s daily news conference. “For all I know, China and the U.S. are not having any consultation or negotiation on tariffs, still less reaching a deal.”
Wall Street responded positively on Wednesday after Treasury Secretary Scott Bessent and Trump raised the prospects of a deal. The Wall Street Journal reported that the White House was considering whether to de-escalate by slashing some tariffs.
Bessent said there was “an opportunity for a big deal.”
On Tuesday, Trump said tariffs on Chinese goods would come down “substantially” from 145%, which the White House imposed after Beijing slapped retaliatory tariffs on US goods following the president’s “Liberation Day” announcement.
According to CNBC, a separate Chinese official also said there are no ongoing talks.
“At present there are absolutely no negotiations on the economy and trade between China and the U.S.,” Ministry of Commerce Spokesperson He Yadong told reporters. His remarks were originally in Mandarin and were translated by the financial publication.
The White House did not immediately respond to Business Insider’s request for comment.
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