China appears to have quietly rolled back retaliatory tariffs of 125% on some semiconductors made in the United States, according to details provided to CNN on Friday by three import agencies in the southern technology hub of Shenzhen.

Levies on certain U.S.-made microchips have been dropped, importers say. Meanwhile, China denied President Trump’s claims that talks to reduce tariffs are happening.

Derisking supply chains will take years, but U.S. trade negotiators can set the table for success by strengthening enforcement, mobilizing investment, and lowering barriers.

President Donald Trump asserted on Thursday that trade talks between the U.S. and China are underway, pushing back against Chinese claims that no discussions have taken place to ease the ongoing trade war.

Trump pushed back on China after Beijing's foreign ministry called the administration's assertions that tariff talks are happening "fake news."