President Trump said “we’re meeting with China” on tariffs, comments aimed at soothing jittery financial markets. But Chinese officials say no talks have taken place.

China exempted some U.S. imports from its steep tariffs in a sign on Friday that the trade war between the two countries could be easing, though China quickly knocked down U.S. President Donald Trump's assertion that negotiations were underway.

President Donald Trump misjudged Beijing by calculating that it would cave into economic pressure, leaving the US unprepared to handle the current tariff standoff, according to an adviser to China’s Foreign Ministry.