China’s Commerce Ministry: There have not been economic and trade talks between China and US

Source Fxstreet

The Chinese Commerce Ministry said on Thursday that “there have not been economic and trade negotiations between China and the US.”

Further quotes

  • There have not been economic and trade negotiations between China and the US.
  • Any content about China-US economic and trade negotiations is 'groundless and has no factual basis'.
  • Any negotiation needs to be conducted on the basis of mutual respect and equality.
  • China urges us to show sincerity if it wants to talks.
  • If US really wants to resolve the issue, it should lift all unilateral tariff measures against China.

Market reaction

AUD/USD is rebounding toward 0.6400, trading at 0.6375, up 0.11% on the day at the press time.

US-China Trade War FAQs

Generally speaking, a trade war is an economic conflict between two or more countries due to extreme protectionism on one end. It implies the creation of trade barriers, such as tariffs, which result in counter-barriers, escalating import costs, and hence the cost of living.

An economic conflict between the United States (US) and China began early in 2018, when President Donald Trump set trade barriers on China, claiming unfair commercial practices and intellectual property theft from the Asian giant. China took retaliatory action, imposing tariffs on multiple US goods, such as automobiles and soybeans. Tensions escalated until the two countries signed the US-China Phase One trade deal in January 2020. The agreement required structural reforms and other changes to China’s economic and trade regime and pretended to restore stability and trust between the two nations. However, the Coronavirus pandemic took the focus out of the conflict. Yet, it is worth mentioning that President Joe Biden, who took office after Trump, kept tariffs in place and even added some additional levies.

The return of Donald Trump to the White House as the 47th US President has sparked a fresh wave of tensions between the two countries. During the 2024 election campaign, Trump pledged to impose 60% tariffs on China once he returned to office, which he did on January 20, 2025. With Trump back, the US-China trade war is meant to resume where it was left, with tit-for-tat policies affecting the global economic landscape amid disruptions in global supply chains, resulting in a reduction in spending, particularly investment, and directly feeding into the Consumer Price Index inflation.

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Gold Price Forecast: PPI and Oil Prices Fuel Inflation Concerns, Can CPI Change Gold's Direction?As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around
Author  TradingKey
8 hours ago
As of the Asian session on September 11, gold prices (XAUUSD) remained in weak consolidation today after dropping sharply to near $4,300 on Thursday, with the latest price trading around
placeholder
US August CPI lands tonight: after a 5.4% PPI shock, will the Fed hike on September 16?US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.
Author  Irene Q.
10 hours ago
US August PPI came in at 5.4% year-on-year, above the 5.3% consensus, with core PPI at 4.6%. Traders have pushed the odds of a 25bp Fed hike on September 15-16 to around 70%. Tonight's CPI is the last major inflation print before the decision — here is the full calendar, the consensus numbers, and what a hot versus cool reading would mean for the dollar, yields, gold and stocks.
placeholder
US-Iran Conflict Drives Oil Surge as WTI Tops $100 and Brent Nears $110International oil prices continued to advance rapidly this week. On Thursday Eastern Time, WTI crude (USOIL) broke through the $100/barrel mark, closing at $103.94, up 7.51%; Brent crude
Author  TradingKey
15 hours ago
International oil prices continued to advance rapidly this week. On Thursday Eastern Time, WTI crude (USOIL) broke through the $100/barrel mark, closing at $103.94, up 7.51%; Brent crude
placeholder
TradingKey Daily Market Briefing: WTI Oil Tops $100, US Stocks Fall for 4th Day, Apple Bucks Trend, CPI AheadTracking Market TrendsTradingKey - On September 10 Eastern Time, the three major US stock indices fell for the fourth consecutive trading day. US August PPI showed upstream price pressures continued t
Author  TradingKey
16 hours ago
Tracking Market TrendsTradingKey - On September 10 Eastern Time, the three major US stock indices fell for the fourth consecutive trading day. US August PPI showed upstream price pressures continued t
placeholder
US August CPI Preview: Will Inflation Reaccelerate? US Stocks, Dollar and Gold Face Key Test On Friday, September 11 (ET), the U.S. Bureau of Labor Statistics will release the Consumer Price Index (CPI) for August, the final major inflation report before the Federal Reserve's Sep
Author  TradingKey
Yesterday 10: 10
On Friday, September 11 (ET), the U.S. Bureau of Labor Statistics will release the Consumer Price Index (CPI) for August, the final major inflation report before the Federal Reserve's Sep
Related Instrument
goTop
quote