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.

Beijing is confident of hitting its 5% economic growth target this year despite the U.S. and China imposing hefty levies on each other’s exports.

Thanks for reading Hyperdrive, Bloomberg’s newsletter on the future of the auto world. As the global car industry descended on Shanghai last week for China’s premier auto show, attendees of an event organized by electric-car maker Zeekr took in sweeping views of the city’s skyline from the rooftop of the landmark Peace Hotel.