Trump says Xi called him, China Trade Talks Active: Report

President Donald Trump said Chinese President Xi Jinping called him, and there are active talks to conclude a trade agreement, according to Time. But a Chinese official denied such discussions.

Trump made these comments during an interview with the magazine on Tuesday, April 22. The interview was published on Friday morning.

“I do not think that is a sign of weakness on his behalf,” said Trump about XI, adding that he expected transactions to be announced in the next three or four weeks.

Why it matters

The markets and companies are watching closely for the signs of an upcoming resolution of a trade war between the two biggest economies in the world, and the changing tone of Trump has given them a little hope.

Trump's prices on China and others have turned the global trade system upset and threatened to slow down the world economy, and perhaps even shoot the United States in the recession.

He considers prices as a powerful tool to force the more equitable trade terms for the United States and dissuade the abusive behavior of China and others. China accuses Trump of using trade intimidation tactics.

What to know

The Chinese Foreign Ministry denied that commercial talks were taking place with the United States

“As I learned, China and the United States have no consultations or negotiations on the prices, reaching even less an agreement,” the spokesman for the Chinese Foreign Ministry, Guo Jiakun said on Thursday.

Asked again in a briefing on Friday, Guo said: “China and the United States have no consultation or negotiations on prices. The United States should stop creating confusion.”

Trump has softened his tone on China in recent days. He said he expected the “very high” prices on Chinese imports “will drop considerably, but it will not be zero”.

In addition, the Secretary in the United States of the Treasury, Scott Bessent, told private investors that the trade war with China was not durable and that he expected a de-escalation soon, according to the Associated Press.

There is a price of 125% on Chinese imports, plus 20% for its role in the fentanyl trade, and additional prices of article 301 on certain goods which can take the even higher rate. China responded in kind.

Trump excluded China from a break on his “reciprocal” prices that have been extended to other business partners to give time to negotiate. He blamed China for his reprisal measures on trade.

But Chinese importers noted that customs agents had discreetly removed prices on several semiconductor and integrated circuit products from the United States

What people say

On China, President Trump told journalists in the White House earlier in the week: “I think we will live together very happily and ideally work together, so I think it will work very well.”

Tim WatererThe market chief analyst at KCM Trade, told AP: “Of course, the markets will continue to listen to the last rhetoric of the White House on the prices and any index of the next trade agreements. As such, market management will be more likely not to continue to be dictated by Trump's last capacities concerning prices and trade.”

What is the next step

Trump says he expects commercial transactions in the next three or four weeks.

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