China Rules Out Further Tariff Hikes As Hopes Rise For US Trade Deal.
China’s Ministry of Finance has confirmed that tariffs on American goods will not be increased further, acknowledging that the current levels have already rendered most imports virtually impossible. The move has been interpreted as a signal of restraint amid heightened trade tensions between the world’s two largest economies.
The development comes as former US President Donald Trump reaffirmed his willingness to reach an agreement with Chinese President Xi Jinping, despite ongoing disputes. Speaking to reporters on Thursday, Trump said: “He’s been a friend of mine for a long period of time. I think that we’ll end up working out something that’s very good for both countries.”
While the tone from Beijing appears to have softened, American officials have stressed that any fresh movement in negotiations would require a direct approach from President Xi.
Meanwhile, financial markets remain on edge, reacting cautiously to the uncertainty. Pressure has been mounting on Trump to find a resolution, as prolonged trade disputes have continued to worry investors and dampen global economic confidence.
Nevertheless, analysts view China’s decision not to escalate tariffs further as a step in the right direction, potentially paving the way for renewed dialogue and a de-escalation of the trade war that has rattled markets for months.