President Trump meets with French President Emmanuel Macron.

BIARRITZ, France – President Donald Trump said Monday that Chinese officials called to restart talks amid an escalating trade war that sent markets spinning last week.

Speaking to reporters at the G-7 meeting of world leaders taking place in France, Trump said that U.S. officials had received two calls from China. The president declined to say whether he had spoken directly with Chinese President Xi Jinping.

"We've got two calls, very very good calls, very productive calls," Trump told reporters. "They mean business."

Trump made the remarks hours before markets opened in the U.S. Those markets plunged Friday after China raised retaliatory tariffs on $75 billion in American made products. Later Friday, Trump responded by raising tariffs on $550 billion in goods.

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