Signs of a Thaw: China Moves to Ease US Trade Tensions

China has exempted some U.S. imports from its hefty tariffs, signaling potential de-escalation in the trade war. However, Beijing denies ongoing negotiations with the U.S. Amid discussions about possible exemptions and trade deals, President Trump maintains optimism despite mixed signals from global markets.

China took a step toward easing trade tensions with the United States by exempting several American imports from its punitive tariffs, fueling hopes for reduced hostilities between the two powers. However, China swiftly dismissed U.S. President Donald Trump's claims of ongoing negotiations.

Business observers report that China has waived tariffs on certain U.S.-manufactured pharmaceuticals, avoiding the 125% levy Beijing recently instituted while responding to Trump's 145% tariffs on Chinese goods. A list circulated among trade circles hinted at more potential exemptions, though official Chinese confirmation is still missing.

Meanwhile, broader strategic negotiations continue. Trump's administration aims to reduce confrontation, with the President suggesting fruitful dialogues with Japanese leaders, potentially reaching an agreement at the upcoming G7 summit. Yet, skepticism persists, underscored by China's social media denials and trade groups urging clarity.

(With inputs from agencies.)