Overview

• The US and China have imposed steep reciprocal tariffs, with rates reaching 145% on Chinese imports and 125% on US goods.
• President Trump has made vague statements about frequent communication with Chinese President Xi Jinping but avoided confirming recent talks.
• China has formally denied any negotiations with the US, dismissing Trump's claims as 'fake news.'
• The ongoing trade war has led to global market instability, with the EU and other partners implementing countermeasures.
• No verified progress has been made in resolving the dispute, leaving high tariffs in place and deepening economic tensions.