U.S. President Donald Trump asserted in an interview published Friday that tariff negotiations were underway with China, but Beijing denied any talks were taking place, the latest in a series of conflicting signals over what progress was being made to de-escalate a trade war threatening to sap global growth.

The chancellor says she “understands what President [Donald] Trump wants to address” with his tariffs, ahead of talks with her US counterpart in Washington on Friday. Rachel Reeves said there were similarities with the way both the US and UK governments had come to power off the back of voter frustration with the economy.