Trump hints at upcoming trade deals amid tariff tensions
Trade agreements are expected in three to four weeks, said US President Donald Trump in an interview with "Time" magazine. He noted that the United States is in talks with China about a customs agreement, which Beijing denies. Trump believes that Xi Jinping called him.
According to Trump, tariffs are still needed, and he stated that if the US maintains tariffs on imported goods at 50% for a year, he would consider it a "complete victory." The conversation with the US president was published on Friday, coinciding with the 100th day of Trump's second presidency.
The Republican also emphasized in the interview that Crimea will remain with Russia. The 78-year-old politician assessed that the cause of the Russian invasion of Ukraine was "the start of talks about joining NATO."
China responds
At the same time, Beijing denied on Thursday that any talks regarding tariffs are being conducted. China and the US are not holding consultations or negotiations regarding tariffs, let alone reaching any agreement on this matter, emphasized Foreign Ministry spokesperson Guo Jiakun during a press briefing.
Meanwhile, on Wednesday, The Wall Street Journal reported that the White House is considering significantly reducing tariffs on imported Chinese goods to de-escalate the trade dispute with China. According to sources cited by the newspaper, tariffs may drop from 145% to 50-65%.
Reuters reported that China is considering exempting some products imported from the US from previously imposed tariffs of 125%. An unnamed source, cited by the agency, claims that this is the strongest signal that Beijing is worried about the economic repercussions of the trade war with Washington.
The Ministry of Commerce is said to have established a special task force to collect lists of products potentially eligible for exemption. Companies are encouraged to submit their applications.
The Chinese financial magazine "Caijing" reported, citing its sources, that plans are in place to include eight items related to semiconductors, but excluding memory chips.
On Friday, a list of 131 product categories that could potentially be subject to exemption circulated on social media and among companies. It would include, among others, vaccines, chemicals, and jet engines. Reuters was not able to verify the authenticity of the list, it was noted.
