China has called on the US to cancel its sweeping tariffs on Chinese goods entering the country as a sign that US President Donald Trump is serious about resolving the trade war between the two countries. A Chinese official said there had been no trade talks with the US, despite suggestions otherwise from the Trump administration.

Trump's erratic, and often confusing, rollout of tariffs has hit countries ranging from the largest U.S. trading partners, like Canada, Mexico and China. The result has been almost unprecedented market volatility and serious damage to investor trust in U.S. assets.