US wants to start tariff talks with China

Chinese state-run media said late Wednesday that the Trump administration has quietly reached out to Beijing to kick off tariff talks. 

Despite President Trump’s public stance that President Xi must make the first move, the development represents the latest behind-the-scenes thawing of relations.

Trump told his Cabinet on Wednesday that falling cargo flows showed China would soon need to engage. Trump said he was confident he’d speak with Xi.

The United States has approached China seeking talks over President Donald Trump's 145% tariffs, potentially signalling Beijing's openness to negotiations.

U.S. officials, including Treasury Secretary Scott Bessent and White House economic adviser Kevin Hassett, also expressed hope for progress in easing trade tensions.

Hassett told CNBC that there have been "loose discussions all over both governments" about the tariffs and China's easing of duties on some U.S. goods last week was a sign of progress.

Beijing has made little effort to contain its anger at the tariffs, which it says are tantamount to bullying and cannot stop the rise of the world's second-largest economy. Instead, it has directed its fury at rallying public and global condemnation of the import curbs - showing no interest in a reprieve.

Source: Agencies