24-04-2025
Trump's China trade jam
Trump and the White House insist the U.S. and China are making progress toward a deal, but Chinese officials have shot down those claims and chastised the Trump administration's approach.
While markets were up on Thursday, the trade war has done economic damage to the U.S. and political damage to Trump.
Two other factors are Beijing's relative readiness for this fight, and the fact that Washington and Trump are seen as the instigator of the trade war, a fact that could help China stand strong even if high tariffs in the U.S. do hit its economy.
Owen Tedford, senior research analyst at Beacon Policy Advisors, said this means Chinese President Xi Jinping 'will also be hesitant to be seen as being pressured into a deal, potentially meaning that Beijing is willing to wait out the US or try to force Trump to act unilaterally.'
Trump insisted that his team is in talks with China after Chinese Commerce Ministry spokesperson He Yadong said any 'claims about the progress of China-U.S. trade negotiations are groundless as trying to catch the wind and have no factual basis.'
