President’s comments follow Chinese government’s denial of ‘baseless’ claim that Washington was close to deal

The US and China held talks on Thursday to help resolve the trade war between the world’s two largest economies, Donald Trump said.

“We may reveal it later, but they had meetings this morning, and we’ve been meeting with China,” the US president told reporters at the White House.

World body says ‘sharp repricing of risks’ possible amid growing concern over role of ‘nonbank’ lenders

• IMF warns of ‘major negative shock’ from Trump’s tariffs
• Editorial: Donald Trump could cost the world $1tn

The global financial system is coming under increasing strain as Donald Trump’s trade war rocks markets, the International Monetary Fund has warned.

“Global financial stability risks have increased significantly,” the IMF said in its regular snapshot of the system, urging regulators to be on the alert for potential crises.