Tit-for-tat tariffs that began with U.S. President Donald Trump's announcement of hefty import levies on April 2 had threatened to stall trade between the world's two biggest economies and sparked fears of a slowdown in global growth.

President Donald Trump said his administration was talking with China on trade, after Beijing denied the existence of negotiations on a deal and demanded the US revoke all unilateral tariffs.“They had a meeting this morning,

President Trump’s apparent softening on tariffs has strengthened Chinese officials’ resolve that he will eventually cave if they wait him out.