U.S. President Donald Trump asserted in an interview published on Friday that tariff negotiations were under way with China, but Beijing denied any talks were taking place, the latest in a series of conflicting signals over what progress was being made to de-escalate a trade war threatening to sap global growth.

Asian stocks were mixed Monday as investors assess how the land lies on the trade war front with countries seeking to temper Donald Trump's eye-watering tariffs.

China’s role in global trade has shifted significantly. In recent years, on a regional basis, Southeast Asia has surpassed it to become the largest trading partner. This shift has implications for China’s economic strategies and its international relationships,