In a move suggesting renewed willingness for economic dialogue, China on Wednesday declared its readiness for trade negotiations with the United States, following President Donald Trump’s remarks hinting at a potential reduction in tariffs on Chinese goods.

Speaking at a press conference in Beijing, Chinese Foreign Ministry spokesman Guo Jiakun said, “China pointed out early on that there are no winners in tariff wars and trade wars. The door for talks is wide open.”

The announcement came a day after Trump, who returned to the White House in January, indicated that tariffs—currently at 145 percent on many Chinese imports—would “come down substantially.”

These tariffs were first introduced in response to China’s alleged involvement in the fentanyl trade and what Washington termed unfair trade practices.

Trump admitted the current tariff level is “very high,” adding, “They will not be anywhere near that number” but clarified “it won’t be zero.”

He emphasized, “Ultimately, they have to make a deal because otherwise, they’re not going to be able to deal in the United States.”

Chinese President Xi Jinping also weighed in, warning that escalating trade tensions could disrupt the global economy.

According to state media, Xi said trade wars “undermine the legitimate rights and interests of all countries, hurt the multilateral trading system and impact the world economic order.”

US Treasury Secretary Scott Bessent echoed this sentiment during a closed-door event on Tuesday. According to an attendee, Bessent characterized the current trade climate as a “reciprocal trade embargo” and anticipated that a de-escalation was likely.

He also noted the reassurance such a shift could bring to nervous financial markets.

Trump further addressed market concerns by clarifying his stance on US Federal Reserve Chair Jerome Powell.

Dismissing speculation of an impending dismissal, Trump stated, “I have no intention of firing him,” though he urged Powell to act more decisively. “I would like to see him be a little more active in terms of his idea to lower interest rates — it’s a perfect time to lower interest rates. If he doesn’t, is it the end? No.”

Markets responded positively. Wall Street indices surged following reports of Bessent’s remarks, while Asian stocks, including Hong Kong and Tokyo, each posted gains of around two percent.

Gold, which had recently hit record highs as a safe-haven asset, retreated slightly in response to the optimism.

Bessent also underscored the need for economic balance in China, stating that the intention of US policy is not to sever ties with Beijing.

He noted, however, that container traffic between the two countries had declined amid rising tensions.

White House Press Secretary Karoline Leavitt reinforced Washington’s optimism, telling reporters that the US was “doing very well in respect to a potential trade deal with China.”

Amid the ongoing spring meetings of the International Monetary Fund and World Bank in Washington, finance ministers and central bankers from around the world are closely monitoring developments in the US-China trade landscape.

Meanwhile, diplomatic outreach by China continued, with Foreign Minister Wang Yi speaking with his British and Austrian counterparts, calling on the UK and EU to collaborate with Beijing in protecting global trade systems.

Japan also appears to be taking proactive steps, with reports suggesting that a second visit to Washington by tariffs envoy Ryosei Akazawa is in the works.

Tokyo may offer new concessions in a bid to ease rising tensions.

Peter Obi, the Labour Party’s presidential candidate in the 2023 general election, was seen at a solemn lying-in-state ceremony held in honour of the late Pope Francis in Rome.

Pope Francis, aged 88, passed away on Easter Monday, April 21.

According to the Vatican, funeral services commenced shortly after, with global dignitaries attending to honour the legacy of the influential Catholic leader.

Obi, currently in Rome, joined Cardinal Francis Arinze and other prominent figures at St. Peter’s Basilica to pay his final respects to the late Pontiff.

Sharing his reflections, Obi stated, “Today, I joined Francis Cardinal Arinze, global dignitaries, and thousands of mourners at St. Peter’s Basilica, Rome, to pay my final respects to His Holiness, Pope Francis, who passed away on April 21.”

“The solemn lying-in-state ceremony was a moment of deep reflection, as the world bids farewell to a man who embodied humility, simplicity, and selfless service,” he continued.

Describing Pope Francis as a figure beyond ecclesiastical leadership, Obi remarked, “Pope Francis was more than a pontiff; as he was also a moral light in a world darkened by inequality and indifference.

His life was a testament to leadership as a sacred duty, one rooted in compassion, truth, and service to the poor and marginalised.

He lived for others, spoke for the voiceless, and reminded us all that leadership must be about lifting others, not self-exaltation.”

Obi also recalled his personal connection to the Pope through a prestigious intellectual fellowship.

“I came to truly appreciate what he stood for after my appointment as a member of Scholars Occultantes—an international circle of thinkers he founded during his time as Archbishop.”

“The organisation, dedicated to truth, ethical leadership, and social transformation, gave me a deeper insight into the intellectual and moral force behind his teachings.”

Reflecting on his encounters with the late Pontiff, Obi shared, “I was blessed to meet Pope Francis on three occasions, with each encounter left a lasting impression on me.”

“He said that the late pontiff radiated peace and inspired faith, and his presence was a quiet yet powerful reminder of the divine responsibility that leadership entails, apart that his humility was infectious and his vision deeply human.”

Concluding his tribute, Obi made a heartfelt appeal to African leaders: “As we mourn this great soul, I urge political, religious, and community leaders, especially across Africa, to reflect on his life and commit to the values he upheld: justice, peace, and human dignity.”

Let this moment not just be one of mourning, but a call to lead with conscience, walk with the people, and govern with love,” Obi said.