The standoff over terms of negotiations, and whether they are happening, signals that a protracted economic fight lies ahead.The New York Times reports that the current stalemate over the terms of negotiations between the United States and China is a clear indication of a prolonged economic battle ahead. As tensions continue to rise between the two largest economies in the world, it has become evident that communication between them is so strained that they cannot even agree on whether talks are taking place.
During a recent White House economic briefing, Treasury Secretary Scott Bessent was repeatedly asked about President Trump’s claim that he had received a call from Chinese President Xi Jinping. However, Mr. Bessent avoided giving a direct answer and joked that he was not responsible for managing the president’s calls.
The lack of communication between the United States and China is a cause for concern for the global economy. The uncertainty surrounding whether back-channel discussions are happening has left markets on edge. While the two countries have not completely cut off ties, it appears that they have stopped discussing the issue of tariffs.
According to China’s foreign ministry spokesman Guo Jiakun, there have been no consultations or negotiations between the two countries regarding tariffs. He also urged the United States not to mislead the public.
It is clear that the ongoing standoff between the United States and China is a serious matter that could have significant implications for the global economy. As the situation continues to unfold, it is important for both sides to find a way to resume communication and work towards a resolution.
Source:Read More