Kathmandu. Beijing on Thursday said any claims of ongoing trade talks with Washington were “baseless” after US President Donald Trump raised the prospect of a deal to reduce the huge tariffs he has imposed on China.
The world’s two largest economies are locked in an increasingly competitive trade war that began with Trump’s new tariffs on Chinese goods. The tariffs have reached 145 percent on many products. Beijing has imposed a new 125 percent tariff on imports from the United States.
The onslaught of tariffs, which Trump has described as retaliation for unfair trade practices and an attempt to restore US manufacturing capacity, has rattled markets and raised fears of a global recession. Beijing has denied Trump’s claim that talks are being held on a daily basis.
“As the competent department for foreign economic and trade relations, I would like to emphasize that there are currently no economic and trade talks between China and the United States,” Chinese Commerce Ministry spokesman He Yadong told a news conference. “Any claims about the progress of China-US economic and trade talks are baseless and have no factual basis. China urges the United States to correct its wrong practices, show the necessary sincerity for negotiations (and) return to the right track of equal dialogue and consultation.”
“Everything is active,” Trump told reporters on Wednesday when asked if Washington was talking to Beijing. Asked whether the US has direct contact with China on trade, Trump said, “Every day.”
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