President Trump spoke to China's Xi about the ongoing tariff battle, claiming both nations are in an escalating tit-for-tat trade war.
While China has denied formal negotiations, Trump is confident that a deal is imminent in the coming weeks.
He indicated a "number" that would make China comfortable, but the tariffs continue to cause market uncertainty and global recession fears.
With China offering exemptions for critical goods, businesses hope these measures will ease tensions and stabilize supply chains.
But, Beijing is prepared for a long-term fight if necessary.
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