China declared that no trade negotiations with the U.S. are currently underway and demanded the Trump administration take the first step by lifting new tariffs, deepening uncertainty around a rapidly escalating trade standoff.
Tensions between the U.S. and China have escalated in recent weeks following President Donald Trump's announcement of steep new tariffs—up to 145%—on a wide range of Chinese imports. In response, Beijing implemented its own retaliatory tariffs and imposed export restrictions on key minerals critical to U.S. industries, according to CNBC.
While the president and Treasury Secretary Scott Bessent had signaled openness to de-escalation, China's Ministry of Commerce and Foreign Ministry issued firm denials that any talks were taking place.
Commerce Ministry spokesperson He Yadong told the outlet Thursday that there were "absolutely no negotiations on the economy and trade" with the U.S. and rejected American optimism as baseless. He made it clear that any forward motion would require the U.S. to first cancel what China sees as "unilateral" measures.
Chinese officials reiterated their condition that negotiations can only proceed if Beijing is treated as an equal partner.
With no clear path to reconciliation, the economic impact is beginning to show. Several Wall Street firms have downgraded their GDP growth forecasts for China amid the uncertainty.
Meanwhile, Beijing is ramping up internal efforts to redirect export-dependent industries toward the domestic market and other trade partners. Analysts warn that if the standoff continues, both economies could suffer deeper setbacks, with global supply chains increasingly caught in the crossfire.
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