US President Donald Trump has insisted Chinese leader Xi Jinping called him despite Beijing denials of any contact between the two countries over their bitter trade dispute.

In an interview conducted on 22 April with TIME Magazine and published Friday, the US president did not say when the call took place or specify what was discussed.

"He's called," Trump said. "And I don't think that's a sign of weakness on his behalf."

Chinese Commerce Ministry spokesman He Yadong told reporters Thursday that "I would like to emphasize that there are currently no economic and trade negotiations between China and the United States."

The world's two biggest economies are locked in an escalating tit-for-tat trade battle triggered by Trump's levies on Chinese goods, which have reached 145 percent on many products.

Trump suggested he will announce deals with US trading partners in the next few weeks.

"I would say, over the next three to four weeks, and we're finished, by the way," he said.

"There's a number at which they will feel comfortable," Trump told the magazine, referring to China. "But you can't let them make a trillion dollars on us."

The tariff blitz — which Trump says is retaliation for unfair trade practices, as well as a bid to restore US manufacturing prowess — has rattled markets and raised fears of a global recession.