Trump says had call with China's Xi on tariffs: US media
The world's two biggest economies are locked in an escalating tit-for-tat trade battle triggered by Trump's new levies on Chinese goods, which have reached 145 per cent on many products.
China has denied that it is conducting trade negotiations with the United States, but Trump said he expects the two countries to reach an agreement in the next few weeks, TIME reported.
However, China is asking businesses to identify goods that could be eligible for tariff exemptions, according to businesses notified. Some companies represented by the US business group have reported that they had imported goods in the past week without the new tariffs being applied, American Chamber of Commerce in China President Michael Hart said on Friday.
"There's a number at which they will feel comfortable," Trump told the magazine during an interview that took place on Tuesday. "But you can't let them make a trillion dollars on us."
The tariff blitz – which Trump says is retaliation for unfair trade practices, as well as a bid to restore US manufacturing prowess – has rattled markets and raised fears of a global recession.
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