When the leaders of some of the world's largest companies flocked to Beijing for a business forum last month, their main purpose was a coveted meeting with Chinese leader Xi Jinping.

The Treasury secretary said that the President Trump and Xi Jinping of China have a good relationship but that he was not aware of a call, which Mr. Trump had alluded to last week.

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