The developments came as China has struck a publicly defiant tone and Trump sowed confusion by claiming that he had spoken with Chinese President Xi Jinping, which Beijing denied.

President Donald Trump said he expected to wrap up trade deals with US partners looking for lower tariffs soon.

President Donald Trump can't stop contradicting himself on his own tariff plans. He says he's on a path to cut several new trade deals in a few weeks — but has also suggested it's “physically impossible" to hold all the needed meetings.

Nobel Laureate Paul Krugman warns that President Trump's unpredictable and often reversed tariff policies are creating deep uncertainty, discouraging business investment and thus increasing the risk of recession.