China's Commerce Ministry: There have not been economic and trade talks between China and US

Breaking news

New

2025.04.24 16:29

China's Commerce Ministry: There have not been economic and trade talks between China and US

2025.04.24 16:29

The Chinese Commerce Ministry said on Thursday that "there have not been economic and trade negotiations between China and the US."

Further quotes

There have not been economic and trade negotiations between China and the US.
Any content about China-US economic and trade negotiations is 'groundless and has no factual basis'.
Any negotiation needs to be conducted on the basis of mutual respect and equality.
China urges us to show sincerity if it wants to talks.
If US really wants to resolve the issue, it should lift all unilateral tariff measures against China.

Market reaction

AUD/USD is rebounding toward 0.6400, trading at 0.6375, up 0.11% on the day at the press time.

US-China Trade War FAQs

What does "trade war" mean?

Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living.

What is the US-China trade war?

An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China's economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies.

Trade war 2.0

The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.

Created

: 2025.04.24

Last updated

: 2025.04.24

German government expects economic stagnation in 2025
10 minutes ago
AUD/USD bounces back to near 0.6400 as US Dollar's recovery fizzle out
42 minutes ago
US Dollar recovery stalls as optimism over US-China trade war deal wanes
46 minutes ago
Eurozone: Tariff reversal is some relief, but no game changer - ABN AMRO
2025.04.24 19:28
US: The US has already lost the trade war - ABN AMRO
2025.04.24 19:21
USD: Optimism over US tariff reversal helps the US dollar to rebound - MUFG
2025.04.24 19:17

Writer

FXStreet

Financial media

FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.

Was this article helpful?

Yes

We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.

please contact us at [email protected].

Thank you for your feedback.

Send

Thank you for your feedback.