 "‘He’s called:’ Trump claims Xi called him even as Beijing denies talks are happening")
US President Donald Trump has revealed that Washington is in talks with Beijing to conclude a trade deal and that Chinese leader Xi Jinping called him to discuss tariffs, according to a Time magazine interview published Friday (April 25). However, the US president didn’t reveal when exactly his Chinese counterpart called him.
“He’s called. And I don’t think that’s a sign of weakness on his behalf,” Trump was quoted as saying by The Times.
Trump further claimed that he will be striking tariff deals with trade partners in about “three or four weeks”.
“I would say, over the next three to four weeks, and we’re finished, by the way,” he said.
Trump’s claim over China talks comes as Beijing earlier refuted that any talks are going on, arguing that USA must drop tariffs to initiate negotiations.
Beijing said there were “no economic and trade negotiations between China and the United States.”
China quietly rolling back retaliatory tariffs
Even as Beijing puts up a brave face, media reports Friday hinted that China may be moving to quietly roll back 125 per cent retaliatory tariffs on some US imports, including semiconductors.
Earlier this month, the Trump administration slapped 145 per cent tariffs on Chinese imports, prompting China to respond with up to 125 per cent on American goods. This back-and-forth raised fears of a wider economic slowdown.
Interestingly, China is making some exceptions. It’s quietly exempting eight types of US semiconductors from these tariffs — but not memory chips. CNN reports that these exemptions were revealed during customs checks, not through public announcements. Some companies may even get refunds if they already paid the duties.
Impact Shorts
More ShortsMeanwhile, Bloomberg reported that China may also exempt certain US medical equipment and chemicals like ethane, which Chinese industries and hospitals rely on heavily.
Trump in the interview also predicted two big diplomatic moves: that Saudi Arabia will join the Abraham Accords — the normalisation deals with Israel started under Trump — and that the US will strike some sort of deal with Iran.
(With inputs from agencies)
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