U.S. President Donald Trump will speak with Chinese President Xi Jinping as soon as this week, Trump's spokesperson said, setting up a major diplomatic exchange as the world's two largest economies seek a deal that could avert a broader trade war.

President Donald Trump is set to impose sweeping 25% tariffs on goods coming from Canada and 10% on goods from China starting Tuesday, in what he’s said is a bid to clamp down on the flow of fentanyl and migrants into the U.S.

U.S. stocks are volatile after President Trump imposed tariffs on Canada, Mexico and China over the weekend. FOX Business is providing real-time updates on the markets, commodities and all the most active stocks on the move.