China Denies Tariff Negotiations Progressing With Trump Administration

The Chinese government has denied claims from President Donald Trump and Treasury Secretary Scott Bessent that the two nations are engaged in productive discussions over a potential end to the trade war set off by Trump jacking up tariffs on America’s third-largest trade partner. 

On Thursday, the Chinese Ministry of Commerce said that “China and the United States have not held consultations or negotiations on the tariff issue, let alone reached an agreement.” 

“Any claims about the progress of China-U.S. economic and trade negotiations are groundless and have no factual basis,” the ministry added. 

In a Cabinet meeting later on Wednesday, Trump accused a journalist of having his “reporting wrong” when asked about China’s denial. 

The disavowal comes less than a day after Trump told reporters at the White House that the administration is “actively” in talks with China over a potential trade agreement after Trump raised the U.S. tariff on Chinese imports to 145 percent earlier this month. China responded with retaliatory tariffs, and has generally not been publicly receptive to the idea of coming to the table. The nation earlier this month accused the U.S. of “blackmail,” insisting it will “fight to the end.”

Trump, meanwhile, has portrayed China and other nations hit with tariffs as desperate to make a deal with the U.S. “Everybody wants to be a part of what we’re doing,” Trump said, adding that his administration was speaking to Chinese representatives “every day.” 

The Chinese government’s denials track with reports from earlier this month indicating that White House officials had begged their Chinese counterparts to have Chinese President Xi Jinping request a phone call with Trump, only to be ignored. 

On Tuesday, the International Monetary Fund reported that they expect a global “shock” to the economy and an international slowdown in GDP growth as a result of Trump’s global tariff regime. The announcement came as it became increasingly clear that the White House has made little progress negotiating the promised trade deals that would save the American economy from a self-induced hemorrhage. 

Several imminent deals with major trade partners have been touted by the White House, only to seemingly fall through at the last second. On Thursday, sources told Fox Business that the White House was signaling to major Wall Street executives that the administration was on the precipice of a trade deal with India. “No details on timing, and recall that we have been here before with Japan only to have the goal posts changed, and terms renegotiated,” Fox Business’ Charles Gasparino wrote on X. “It could be used as a template for a deal with Japan, South Korea, and Australia.” 

As it stands, consumers in the United States stand to face a shortage of the cheap, imported goods they’ve become so accustomed to. Shipping volumes and American port bookings are already falling, and according to a Wednesday report from the Federal Reserve, companies are already exploring ways to pass along the increased cost of goods to consumers. 

“Most Districts noted that firms expected elevated input cost growth resulting from tariffs,” the report stated. “Many firms have already received notices from suppliers that costs would be increasing.”