Conflicting claims from US, China on talks cloud global trade outlook

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US President Donald Trump claimed in an interview published on Friday that tariff talks with China were underway, even Beijing refused any debate – the latest contradictory indicators in the growing trade war on global economic growth.

Talking to Time Magazine, Trump stressed that the talks were underway and that Chinese President Xi Jinping had called him personally. He left the White House for Rome to attend Pope Francis’ funeral.

In a statement from the Foreign Ministry posted by the Chinese Embassy in China and the United States, China was shot, “China and the United States are not having any consultations or discussions on the #tariff.”

Trump told reporters on Air Force One later on Friday, saying that if China opens its markets for US products, it will win and this can do so.

He said, “Free China. You know, let us go in and work China.” “It would be great. It would be a huge win, but I am not sure that I will ask for it because they don’t want to open it.”

On Saturday, Chinese Foreign Minister Wang Yi said Beijing adheres to international laws regarding the taxes from the United States and will express solidarity with other countries.

According to a statement from the Chinese Foreign Ministry, Wang said, “Some countries are adhering to their priorities, engaging in bullying and forced transactions, and provoking trade wars for no reason, and exposing their extreme ego.”

The backbone of Trump’s wrong price policy increases considerably, not just around China, but rather that since returning to the White House in January, he has surrounded dozens of countries to attack their deals to reduce their deals.

His team of negotiators was organizing a trade era of trade talks with foreign officials, who prepared Washington this week for the International Monetary Fund and the World Bank Group’s spring meetings.

But when Trump’s secretary secretary Scott Basant received indications of rapid progress, many of his counterparts were overwhelmed. In the IMF, finance chiefs were going home with a new hurry to reduce the risks offered by prices.

“I am moving away from these meetings with a clear sense of everything that is at stake and the risks that are there for jobs, development, quality of life,” Irish Finance Minister Paschal Donoho told Reuters.

“The meetings here … remind me that we need to leave no stone unturned in the next few weeks and months to find out how we can reduce this uncertainty.”

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Although deals are really being hit to avoid the implementation of Steper tariff in early July, it is clear that there were some degradation of degradation.

China exempted some US imports from its standing rates, because business groups said Beijing had allowed some US -made pharmaceuticals to enter the country early this month without paying 125 percent duties, which imposed 145 % of Trump’s revenue on Chinese imports earlier this month.

Also, a list of 131 product categories states that it is under consideration for discounts, circulating in some business and commercial groups. Reuters could not confirm the list, including vaccines, chemicals and jet engines, and China has not yet spoken publicly on the issue.

The Trump administration has also indicated in recent times that it wants to end tensions with China, Basant has said that the two sides consider the current state of the game unbearable.

Trump told reporters at the White House that he was very close to the deal with Japan. What analysts have seen as a “test case”. For other bilateral trade agreements, the dialogue can be difficult. Some people expect that Prime Minister Shigro and Trump will meet at a group of seven countries’ group summit in Canada in June when they announce the deal.

Trump also told the time that he had made “200 deals” which would be completed within three to four weeks, though he refused to provide details. He said that if he is from 20 % to 50 % from one year now, he will consider it “complete victory”.

The President has argued that his business barriers will revive US manufacturing industries that have been hollowed out by global competition.

However, economists have widely warned that they will cause higher prices for US consumers and increase the risk of recession.

The US stock was on the way for a weekly advantage, though they are about 10 percent lower after returning to Trump in January, while indexes in other countries have fallen behind, while the dollar has fallen at an extraordinary rate.

The European and Asian stock reached the second straight week of the benefits on Friday, and the dollar saw its first weekly increase in more than a month, as investors were relieved by symbols that were ready to withdraw from the United States and China from their trade war.

Wall Street’s main indexes increased slightly when investors struggled to clarify on the US China Trade Front.

In addition to the country’s taxes, Trump has also imposed a 10 % tariff on all other US imports and high duties on steel, aluminum and autos.

It has also developed levies related to additional industry on pharmaceutical and semiconductor. According to industry estimates, this could increase drug prices in the United States by 12.9 %.

This week, the IMF meetings were dominated by Trump’s prices, where the finance ministers angered one -on -one meetings with the US Treasury Secretary.

Basant on Thursday called the preliminary conversation with South Korea “very successful”, which Seoul called “good start and start”. Further discussions are scheduled for next week.

Switzerland said it was satisfied with his initial meeting with Basant. The US Trade Office said it was a “permanent engagement” with Japan and other countries, but said Trump would eventually decide whether he would move forward or not.

Despite the insistence of IMF chief Kristalina Georgia, there was little sign of concrete progress with other countries, which this week warned that they could cause severe slowdown in global growth.