Trump has held up tariffs as a negotiating tool with China and claimed talks are ongoing, but Beijing says so far there have not been any negotiations.

The economic effects of new trade wars could be hard for the United States to dodge even if talks yield new deals soon.

Members of Donald Trump's cabinet gave conflicting messages on Sunday about whether negotiations with China over tariffs are taking place, as the Republican president has asserted. The Trump administration signaled openness last week to de-escalating a trade war between the world's two largest economies that has raised fears of recession.