China insists that it has no knowledge of calling Trump and says the charges are "excessive pressure" and "not at all constructive."


A day later, China still insists that no phone calls were made over the weekend, which, according to President Donald Trump, showed its readiness to speak again.

"The United States has not heard of the situation regarding two calls over the weekend," Chinese Foreign Ministry spokesman Geng Shuang said at a press conference on Tuesday. He denied on Monday that the calls had taken place.

"Unfortunately, the United States has increased the tax rate on China's exports further. This excessive pressure is damaging to both sides and is not constructive at all," Geng said, according to the CNBC translation.

On Monday, Trump said at the G7 summit in France that China, in a recent telephone conversation, expressed a desire to reach an agreement. His comments renewed expectations of a resolution between the world's two largest economies, scoring more than 250 points on the market on Monday as the Dow Jones Industrial Average.

Trump abruptly ended the cease-fire tariffs earlier this month by imposing higher tariffs on Chinese products and China retaliated with a tariff of more than $ 75 billion for American products and resumed automotive tariffs. Trump also said that he is ordering American companies to immediately start looking for alternatives to China.

"We hope that the United States can remain calm, return to rationality, stop wrong practices and create a situation for both parties to consult on the basis of mutual respect, equality, and mutual benefit. "Geng said on Tuesday.

Chinese state media Xinhua also maintains a strict stance on the trade war.

"China has not given up, nor will it give up," Xinhua said in a comment Tuesday. "Adopting an old strategy of intimidation and maximum pressure, the US administration has repeatedly intensified trade tensions and tried to force China to accept its irrational demands."

Xinhua called Trump's move for companies to leave China "ridiculous at best".