Levies on certain U.S.-made microchips have been dropped, importers say. Meanwhile, China has denied President Trump’s claims that talks to reduce tariffs are happening.

China has exempted some U.S. imports from its 125% tariffs and is asking firms to identify critical goods they need levy-free, according to businesses notified, in the clearest sign yet of Beijing's concerns about the trade war's economic fallout.

China is weighing an exemption for some U.S. imports from its tariffs as the economic fallout in its ongoing trade war with Washington becomes more apparent.