Negotiations Every Day? China Criticizes Trump's Tariff Abuse [Summary]

NYT: "Trump Likely Bluffing"

As U.S. President Donald Trump continues to claim that negotiations with China are ongoing, China has openly criticized him for "abusing tariffs." This raises questions about whether behind-the-scenes contacts are actually taking place between the two countries or if President Trump is exaggerating the progress of tariff negotiations.

According to a Reuters report on the 25th (local time), Pan Gongsheng, the governor of the People's Bank of China, said in a closing speech at the International Monetary Fund (IMF)-World Bank Committee meeting held in Washington that "the recent abuse of tariffs by the U.S. seriously infringes on the legitimate rights and interests of other countries, severely undermines the rules-based multilateral governance system, and deals a significant blow to the global economic order."

Governor Pan Gongsheng criticized that "the U.S. tariff bomb is harming the long-term stability and growth of the global economy," and "it has triggered sharp fluctuations in the global financial market, threatening global financial stability and posing challenges to emerging and developing countries." He also emphasized that "it is urgent for countries to strengthen policy coordination and promote trade liberalization."

Meanwhile, the two countries are engaged in a 'truth game' over tariff negotiations. President Trump stated on the 23rd (local time) at the White House that "we are negotiating with China every day." However, the Chinese Ministry of Commerce and Ministry of Foreign Affairs dismissed this as "fake news" in a press briefing. Nevertheless, as it was reported that the Treasury Secretaries of the two countries met in Washington, D.C., doubts about China's claims are growing.

On the 24th (local time), when asked by reporters who he was talking to in China regarding trade, President Trump replied, "They had a meeting this morning." In an interview article published by Time magazine that morning, President Trump claimed that Chinese President Xi Jinping called him.

On this day, the New York Times (NYT) reported that President Trump's claim that President Xi called him is likely not true. NYT explained that as the financial market was shaken by the tariff bomb, Trump seemed to be 'bluffing' about the progress of negotiations with China.

Reporter Minhyung Lee, Hankyung.com meaning@hankyung.com