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.

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

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.