Trump defends steep tariffs, calls 50% duties a "victory" and shrugs off market turmoil, saying the bond market "got the yips." Follow Newsweek's live blog.

President Donald Trump said Thursday that the U.S. and China have been negotiating a deal on tariffs after Beijing said earlier that such assertions from Washington were "fake news.""Well, they had a meeting this morning,

China standoff over high tariff levels that amount to a mutual trade embargo between the world’s two largest economies.