Besant said on Sunday that he did not know whether Trump had spoken with Chinese President Xi Jinping about the trade war, and that the recent dialogue with Chinese officials took place under the auspices of the International Monetary Fund, not as trade negotiations.
Bessent's remarks added further doubt to Trump's claims that trade talks with China were taking place - a claim Beijing has categorically denied.
Mixed signals, coupled with Trump's tendency to fluctuate in his tariff plans, kept markets on edge.
Besent's remarks also came ahead of a May 2 deadline to end meager exemptions on cheap Chinese imports.
China stimulates its economy
A senior Chinese official said on Monday that Beijing plans to introduce more measures to support the economy and that he is confident that China will achieve the government's annual growth target of 5%.
Zhao Zhenxin, deputy head of the National Development and Reform Commission, said at a press conference that China will roll out measures to maintain stable employment and economic performance, while also promoting development, according to local media reports.
Zhao also expressed confidence in achieving the government's annual GDP target of 5%, noting that China has ample reserves and sufficient space to provide further policy support.
Zhou Lan, deputy governor of the People's Bank of China, said at the same conference that the People's Bank of China will maintain a moderately loose policy to promote economic growth, while also maintaining the stability of the yuan.
Zhou's remarks preceded local media reports that expected further interest rate cuts by the People's Bank of China in the coming months. The central bank has already cut its key benchmark lending rate to record lows in recent years.
Monday's comments are part of a general trend of confidence in the Chinese economy from high-level policymakers, despite the potential for significant damage from a bitter trade war with the United States.
US President Donald Trump imposed tariffs of up to 245% on Chinese goods earlier in April, triggering retaliatory tariffs of up to 120% from Beijing. The tit-for-tat tariffs have negatively impacted China's economic outlook, given that the country had already suffered from slowing growth in recent years.
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