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

China has called on the US to cancel its sweeping tariffs on Chinese goods entering the country as a sign that the President Donald Trump is serious about resolving the trade war between the two countries.

China demanded that the US revoke all unilateral tariffs and denied there were talks on reaching a trade deal, maintaining a defiant stance despite President Donald Trump’s recent easing of criticism of the country.

China appears to have quietly rolled back retaliatory tariffs of 125% on some semiconductors made in the United States, according to details provided to CNN on Friday by three import agencies in the southern technology hub of Shenzhen.

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

An American business group said that Chinese officials had been surveying companies about American products that are crucial to their supply chains.

U.S. consumer sentiment ebbed for a fourth straight month in April amid concerns about the economic impact of tariffs.

Expectations fell across the board, but the decline was particularly prominent among middle-income families. Prices remain a top concern.

US consumer sentiment fell to one of the lowest readings on record and long-term inflation expectations climbed to the highest since 1991 on fears of the economic fallout from tariffs.

US stock futures drop after Trump says 20- 50% tariffs on foreign imports would be a victory. His remarks overshadow possible waivers from China.

Japan’s major carmakers saw their US sales surge in March, fueled by a last-minute rush to buy cars before US President Donald Trump’s tariffs on imported vehicles kicked in.

President Donald Trump on Wednesday said a 25 percent tariff imposed on cars imported from Canada to the United States could go up. "When I put tariffs on Canada - they're paying 25 percent - but that could go up,

U.S. President Donald Trump is planning to spare carmakers from some tariffs following intense lobbying by industry executives over recent weeks, the Financial Times reported on Wednesday, citing a couple of people familiar with the matter.