Chinese leader Xi Jinping has not spoken to US President Donald Trump on the phone recently, Beijing said Monday, reiterating that no talks are taking place between the two countries to resolve their tariff war.

China's foreign ministry on Monday said President Xi Jinping had not spoken to Donald Trump recently, nor were their respective administrations trying to strike a tariff deal, contradicting the U.S. president's claim in an interview with Time magazine.

Economic risks are growing as the two sides appear to disagree about whether they are even engaged in tariff negotiations.