US President Donald Trump and Chinese President Xi Jinping. (Photo: investing.com)

Trump told reporters in London where he was due to attend a meeting of NATO leaders that he has no deadline for the trade deal. European share prices and the Chinese yuan currency fell on Trump’s comments.

Investors have been hoping that the United States and China can avert an escalation of their trade tensions which have slowed global economic growth. Washington and Beijing have yet to ink a so-called “phase one” agreement announced in October, which had raised hopes of a de-escalation in their prolonged trade war.