China has exempted certain U.S. imports from its high tariffs, indicating the potential for easing trade tensions following positive statements from the U.S. government. Chinese firms are being asked to identify critical goods for duty-free exemptions, which could extend to various industries. This move has positively influenced markets and strengthened the U.S. dollar. While there is speculation about a de-escalation in conflict, both sides remain cautious, with a failure to fully acknowledge official discussions on tariffs, as highlighted by conflicting statements from both governments.
But he cautioned: "It's clear that neither the U.S. nor China want to be the first in reaching out for a deal."
Trump told Time magazine in an interview that U.S.-China talks were taking place on tariffs and that Chinese President Xi Jinping had called him.
As a quid-pro-quo move, it could provide a potential way to de-escalate tensions," said Alfredo Montufar-Helu, a senior adviser to the Conference Board's China Center.
The U.S. should "stop creating confusion," said the Chinese embassy, clearly disputing the U.S. characterization of any talks.
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