Trump remarked Tuesday that the 145% tariffs imposed on Chinese goods were “very high” and would “come down substantially.” “They won’t go to zero, but they’ll be much lower,” he added.

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The comments calmed global markets that had been rattled by Trump’s hardline trade stance, and China responded by reaffirming its openness to dialogue. “There are no winners in trade wars,” said Foreign Ministry spokesman Guo Jiakun. “The door for talks is wide open.”

However, on Thursday, China’s Commerce Ministry stated that no trade talks had taken place yet and labeled reports of ongoing negotiations as “groundless and without factual basis.”

Other Key Developments:

• President Xi Jinping warned that trade wars “harm the global economic order.”
• Treasury Secretary Scott Bessent indicated in a closed-door meeting that a de-escalation was likely.
• White House Press Secretary Karoline Leavitt said, “The U.S. is doing very well on a potential deal with China.”
• Japan is reportedly preparing to send a second envoy to Washington as part of tariff discussions.

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