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

US President Donald Trump has signaled a potential U-turn on his trade war with China, saying the high tariffs on Chinese goods will “come down substantially, but it won’t be zero.”

The president's criticisms of Powell continued Monday as Trump said he should lower interest rates. Last week, Trump said Powell's "termination cannot come fast enough." However, he said Tuesday afternoon that he has "no intention" of firing the Fed chairman.