Trump Dismisses Report Of Seeking Xi Meeting As 'Fake News' Even As US-China Trade Talks Roll On In Stockholm

As trade representatives from Washington and Beijing negotiate in Stockholm to extend the current tariff truce, U.S. President Donald Trump has poured cold water on hopes of a potential meeting between him and Chinese President Xi Jinping. 

In a post on his Truth Social account late Monday, Trump slammed a Fox News report that said he was seeking a meeting with Xi as “Fake News.”

“This is not correct, I am not SEEKING anything!” the president said, adding that such a meeting would only “be at the invitation of President Xi, which has been extended.”

“Otherwise, no interest!” he wrote.

Despite Trump's lack of interest in initiating efforts, he and his administration have been exploring the possibility of a meeting with Xi since the two countries’ delegations met for tariff talks for the first time in Geneva in May.

The U.S. stock futures rose early Tuesday amid hopes of a U.S.-China trade deal. The SPDR S&P 500 ETF (SPY), an exchange-traded fund (ETF) that tracks the broader U.S. market performance, has gained 9.3% this year, compared to a steeper 27% rise in the iShares MSCI China ETF (MCHI).

The SPY was the most active ticker on Stocktwits early Tuesday, as retail investors discussed the impact of the latest trade deal with the European Union and Commerce Secretary Howard Lutnick’s latest remarks on a possible extension of the tariff truce with China.

As part of the April 2 “Liberation Day” tariffs, China was subjected to a hefty 34% levy, which was subsequently increased to 125% as both sides retaliated against each other’s rates. 

Following the May 12 Geneva talks, the U.S. and China issued a joint announcement, reducing tariffs to the April 2 baseline rate and suspending reciprocal tariffs for 90 days.

Subsequently, the two sides met in London in mid-June, and following the conclusion of the two-day talks, they announced that they had agreed on a framework, which the presidents of both countries would then approve.

The 90-day suspension would end on August 12. Two weeks ahead of the deadline, economic officials from China and the U.S. met in Stockholm, with the talks prolonging for more than four hours on Monday and set to continue on Tuesday.

The U.S. side is being led by Treasury Secretary Scott Bessent, and the Chinese delegation by Chinese Vice Premier He Lifeng.

While speaking to reporters in Scotland as he met with the U.K. Prime Minister Keir Starmer, Trump said, “I'd love to see China open up their country.”  Trump finalized a framework agreement with the European Union (EU) on Sunday, setting a 15% tariff for the 27-nation bloc.

In a separate development, the U.S. reportedly refused permission for stopovers by Taiwanese President Lai Ching-te in New York and Dallas, in order not to irk China and derail the ongoing tariff talks. Taiwan and China share a history of hostility over the island nation's territorial independence. 

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