Official data will come in time, but everyone is impatient and wants information faster. The FT report noted that “scheduled container volumes are plummeting at the Port of Los Angeles”. According to the IMF, the port accounts for more than 15 per cent of all US imports, with the vast majority of that being shipped from China.

China has advanced this year's stimulus plans but is holding off on fresh measures as it tries to maintain composure, betting on Washington blinking first in a protracted trade war.

The view that the Chinese leadership was desperate to negotiate a trade deal, to avoid economic pain that could destabilize Chinese society and threaten the Chinese Communist Party’s monopoly on power, is common among China hawks in the United States. This analysis is partly accurate, but it has led many to draw false conclusions.

OMB Director Russ Vought discusses President Donald Trump's tariff standoff with China on 'America's Newsroom.'

Trump's erratic, and often confusing, rollout of tariffs has led to unprecedented market volatility and serious damage to investor trust in U.S. assets.

Trump has held up tariffs as a negotiating tool with China and claimed talks are ongoing, but Beijing says so far there have not been any negotiations.

The US Senate has confirmed that former Georgia Senator David Perdue will become ambassador to China, a key post amid the Trump administration's escalating trade tensions with Beijing. Perdue, who was nominated by Trump during the transition period in December,

The Senate has confirmed former Sen. David Perdue as ambassador to China, just as the U.S. and China are locked in a tariff showdown that threatens to redefine diplomatic relations between the world’s two largest economies.