The trade spat escalated earlier this month when Trump hiked tariffs on Chinese goods to a whopping 145%. China responded with 125% tariffs on U.S. goods and other countermeasures. “This is a game of chicken,” Yasheng Huang, professor of global economics and management at MIT, told ABC News.

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. A Chinese official said there had been no trade talks with the US, despite suggestions otherwise from the Trump administration.