U.S. Treasury Secretary Scott Bessent on Sunday did not back President Donald Trump's assertion that tariff talks with China were under way and said he did not know if the U.S. president had talked to Chinese President Xi Jinping.

The Treasury secretary said that the President Trump and Xi Jinping of China have a good relationship but that he was not aware of a call, which Mr. Trump had alluded to last week.

China’s role in global trade has shifted significantly. In recent years, on a regional basis, Southeast Asia has surpassed it to become the largest trading partner. This shift has implications for China’s economic strategies and its international relationships,