In a recent interview, Trump stated that Xi had initiated contact, suggesting that negotiations were progressing and that multiple trade agreements could be finalized within weeks. He emphasized the United States' position as a dominant market and justified the imposition of tariffs as a means to establish equitable trade conditions. However, Chinese officials have refuted these claims, asserting that no such discussions have taken place and labeling the U.S. statements as misinformation.
The U.S. has implemented tariffs up to 145% on Chinese imports, prompting retaliatory measures from Beijing, including 125% tariffs on U.S. goods and restrictions on the export of rare earth minerals crucial for technology production. Despite these tensions, China has quietly exempted certain U.S.-made semiconductors from high tariffs, a move interpreted as an effort to protect its vital tech sector amid the escalating trade conflict.