US President Donald Trump has claimed that tariff negotiations with China are under way, though Beijing has firmly denied any such talks, intensifying confusion over efforts to ease trade tensions threatening global growth.

In an interview with TIME magazine, Trump said Chinese President Xi Jinping had called him regarding trade discussions, a claim he reiterated before departing for Rome to attend Pope Francis’s funeral.

However, China responded through its embassy in Washington, insisting that no consultations were taking place and urging the US to “stop creating confusion.”

Speaking later aboard Air Force One, Trump suggested opening Chinese markets to US products would constitute a major win. Yet, he admitted uncertainty over whether China was willing to take that step.

Chinese Foreign Minister Wang Yi, addressing a regional meeting in Kazakhstan, criticised certain countries for “bullying” tactics and reaffirmed Beijing’s commitment to international trade rules.

Amid the conflicting rhetoric, small signs of de-escalation emerged. Beijing reportedly allowed some US-made pharmaceuticals to bypass its retaliatory tariffs, and a list of potential product exemptions was circulating among businesses.

Meanwhile, Trump’s administration has been conducting a series of rapid trade discussions with visiting foreign officials during the IMF and World Bank meetings in Washington. Treasury Secretary Scott Bessent suggested progress, though international counterparts expressed concerns about the broader economic risks.

Trump also hinted at a pending trade deal with Japan and claimed to have “200 deals” near completion, underscoring his aggressive push to reshape global trade despite economists’ warnings about the potential costs to consumers and growth.