- Trump says talks are underway with China, Beijing does not say true.
- Trump says he concluded “200 offers” to conclude in 3 to 4 weeks.
- Business groups say China gives up prices on pharmaceutical products.
US President Donald Trump said in an interview published on Friday that tariff negotiations were underway with China, but Beijing denied that talks were taking place, the last of a series of contradictory signals on the progress made to defuse a trade war threatening the global growth of SAP.
Trump said TIME Magazine that talks was held and that Chinese President Xi Jinping called him, an assertion he repeated to journalists when he left the White House on Friday morning so that Rome attended the funeral of Pope Francis.
“China and the United States have no consultation or negotiations on #Tariffs”, China retaliated in a Declaration of the Ministry of Foreign Affairs published by the Chinese Embassy in the United States “the United States should stop creating confusion.”
Trump, addressing journalists in the Air Force One later Friday, said that it would be a victory if China would open its markets for American products and that the prices could get there.
“Release China. You know, let us enter and work China,” he said. “It would be great. It would be a big victory, but I’m not even sure that I will ask for it because they don’t want him to open.”
On Saturday, Chinese Foreign Minister Wang Yi said Beijing respects international rules on the prices imposed by the United States and was looking for solidarity with other countries.
“Some countries adhere to their own priorities, engage in intimidation pressure and coercive transactions and provoke trade wars without reason, exposing their extreme selfishness,” Wang said a regional meeting in Kazakhstan, according to a statement from the Chinese Foreign Ministry.
The back and forth adds to the substantial uncertainty surrounding Trump’s erratic pricing policy, not only in China, but also with regard to dozens of countries that rushed to conclude their own agreements to facilitate the burden of important taxes which he triggered since his return to the White House in January.
His team of negotiators led what was equivalent to a series of commercial talks with foreign officials who had invaded Washington this week for the spring meetings of the International Monetary Fund and the World Bank group.
But while Trump officials, including the secretary of the Treasury, Scott Bessent, praised the indications of rapid progress, many of their counterparts were more circumstant. The IMF finance chiefs returned home with a renewed emergency to reduce the risks presented by the prices.
“I move away from these meetings with a clear feeling of everything that is at stake and the risks that are there for jobs, for growth, for the standard of living of the whole world,” said the Irish finance minister Paschal Donohoe Reuters.
“The meetings here … reminded me why we should not leave any stone not returned in the coming weeks and months to see how we can reduce this uncertainty.”
De -escalation
Although the clarity of knowing whether the agreements are really concluded to avoid the taxation of even higher prices in early July, there were signs of de -escalation.
China has exempted certain American imports from its high prices because the groups of companies said that Beijing had allowed certain American manufacturing products to enter the country without paying the rights of 125% that Beijing imposed earlier this month in response to the 145% Trump prices on Chinese imports.
In addition, a list of 131 product categories that would have been considered for exemptions circulated among certain companies and trade groups. Reuters Impossible to check the list, which includes vaccines, chemicals and jet engines, and China has not yet communicated publicly on the issue.
Trump’s administration has also pointed out in recent days that she sought to defuse tension with China, Bessente saying that the two parties consider the current state of play as untenable.
Trump told the White House journalists that he was very close to an agreement with Japan. This is considered by analysts as a “test case”; For other bilateral trade agreements, although talks can be difficult. Some expect Prime Minister Shigeru Ishiba and Trump to announce a pact when they meet at the top of the seven nations group in Canada in June.
Trump also said TIME That he had concluded “200 agreements” which would be completed in three to four weeks, although he refused to provide details. He said he would consider this to be a “total victory” if the prices were still 20% to 50% per year.
The President argued that his job of commercial barriers would revive the American manufacturing industries which have been dug by global competition.
Economists, however, largely warn that they would cause higher prices for American consumers and increase the risk of recession.
American shares were on the right track for a weekly gain, although they were down approximately 10% since Trump came into office in January, late indices in other countries, while the dollar fell to an unprecedented rate.
European and Asian actions went around a second consecutive week of gains on Friday and the dollar watched its first weekly increase in more than a month, while investors comfort signs that the United States and China were ready to withdraw from their trade war.
The main Wall Street indices increased slightly while investors struggled for more clarity on the commercial front of the United States-China.
In addition to specific prices in the country, Trump also imposed a 10% rate on all other American imports and higher rights on steel, aluminum and cars.
He has also launched additional direct debits to industry from pharmaceuticals and semiconductors. This could increase the prices of medication up to 12.9%, according to an estimate of the industry.
Trump’s prices dominated discussions during IMF meetings this week, where finance ministers inclined individual meetings with the US Treasury Secretary.
Bessent characterized initial discussions on Thursday with South Korea as “very successful”, which Seoul called a “good start”. Other discussions are scheduled for next week.
Switzerland said that she was satisfied with her first meeting with Bessent. The United States Commercial Office said it was “constantly engaged” with Japan and other countries, but said Trump would finally decide if they would proceed.
There were few signs of tangible progress with other countries, despite the demand for the head of the IMF, Kristalina Georgieva, who warned this week that they could cause a serious slowdown in global growth.