China Demands US Drop All Unilateral Tariffs and Denies Talks

China demanded that the US revoke all unilateral tariffs and said there were no talks on reaching a trade deal. He Yadong, spokesman for the Ministry of Commerce, also urged the US to “show sincerity” if it wants to make a deal. The remarks suggest that Trump’s comments this week signaling that he could lower tariffs on China — which currently stand at 145% for most goods — will not be enough to ease tensions.

US officials, meanwhile, are weighing a reduction of tariffs targeting automakers after executives warned such levies threatened by President Donald Trump would deal a severe blow to the industry. One option under consideration is to spare automobiles and parts already subject to some tariffs from additional duties, while another possibility is to exempt auto parts that comply with the US-Mexico-Canada trade pact, sources said. This suggests the administration may be looking to narrow the scope of levies and mitigate the hit to jobs and profits.