In a dramatic turn of events, US President Donald Trump announced that talks between the US and China are underway, aiming to ease the escalating trade war between the two economic superpowers.

"We may reveal it later, but they had meetings this morning, and we've been meeting with China," Trump revealed to reporters at the White House, fueling speculation about a potential breakthrough.

This announcement followed a firm rebuttal from China, challenging Trump's assertion that a trade deal was imminent. Spokesperson He Yadong from China’s commerce ministry asserted that "currently, there are no economic and trade negotiations between China and the United States," labeling Trump's claims as "baseless rumors."

The stakes are high as Trump hinted at significant reductions in the staggering 145% tariffs currently imposed on Chinese goods. However, He Yadong countered that the US should withdraw from all unilateral tariffs if they genuinely seek to de-escalate tensions.

Just earlier this month, Beijing retaliated with a hefty 125% tariff on U.S. goods, a move described by experts as leading the two nations to a precarious economic standoff.

Global Economic Uncertainties