Most European companies in China have so far been able to limit the direct damage from the trade war, a survey has found, though a majority conceded their business environment has grown more challenging this year.

U.S. President Donald Trump on Wednesday suggested China initiated upcoming senior-level trade talks between the two countries and said he was not willing to cut U.S. tariffs on Chinese goods to get Beijing to the negotiating table.

The Treasury secretary and trade representative plan to meet with Chinese officials this weekend to discuss trade and economic matters.