Special Poll
President Donald Trump asserted on Thursday that the United States and China are engaged in ongoing trade discussions, despite explicit denials from Chinese officials. Trump mentioned that meetings had taken place earlier that day but did not provide specifics about the participants involved. In contrast, China’s Foreign Ministry spokesperson, Guo Jiakun, dismissed reports of such talks as “fake news,” stating that no negotiations or agreements concerning tariffs are currently underway.
The conflicting narratives underscore the strained communication between the two nations amid an escalating trade war.Earlier this month, the U.S. imposed 145% tariffs on Chinese goods, prompting China to retaliate with 125% tariffs on American products. These measures have led to economic strain, with American businesses facing increased import costs and Chinese exporters experiencing decreased U.S. demand.
Amid the uncertainty, Treasury Secretary Scott Bessent suggested that easing tariffs is essential for future negotiations and for rebalancing the trade relationship between the world’s two largest economies.
Despite the lack of clarity on the status of trade talks, global markets have shown resilience. The FTSE 100 in London marked its ninth consecutive day of gains, closing at a three-week high, while the S&P 500, Dow Jones, and Nasdaq all saw significant increases.
However, the ongoing trade tensions have contributed to a decline in President Trump’s approval ratings. A Reuters/Ipsos poll released earlier this week found that only 37% of Americans approve of Trump’s handling of the economy, the lowest rating of his presidency. Concerns over a potential recession and the impact of tariffs on consumer prices have been cited as factors influencing public opinion.
As the trade dispute continues, both nations face pressure to find a resolution that mitigates economic damage and restores stability to global markets.