It’s hard to know if Trump's comments on Xi Jinping suggest the world’s two biggest economies are getting any closer to a deal on tariffs.

U.S. President Donald Trump has promised to hike nearly all of his tariffs on foreign steel and aluminum to a punishing 50% on Wednesday, a move that would hammer businesses from automakers to home builders,

Trump has signed an order that has from June 4 raised tariffs on imported steel and aluminium to 50 percent, up from the 25 percent rate introduced in March