Daily SumUp

US President Donald Trump has appeared to soften his recent comments on China and the head of the US Federal Reserve after recent clashes as he pursues his economic agenda.

Trump said he has "no intention of firing" Jerome Powell after repeatedly criticising the head of the central bank, but added that he would like Powell to be "a little more active" on cutting interest rates.

Speaking in the Oval Office on Tuesday, Trump also said he was optimistic about improving trade relations with China.

He said the level of tariffs - or import taxes - that he had imposed on Chinese imports would "come down substantially, but it won't be zero".