U.S. President Donald Trump said on Tuesday that he was not seeking a summit with Chinese President Xi Jinping, but added that he may visit China at Xi's invitation, which Trump said had been extended.

Yet analysts say the Chinese leader is likely holding out for concrete deliverables before agreeing to the high-profile meeting. Trump dramatically escalated the trade war with the world's second-largest economy in April, rolling out sweeping new tariffs that prompted China to respond with its own export duties and other measures.

President Trump has revealed that he may jet over to China in the near future, but rebuffed suggestions that he is seeking a summit with Beijing counterpart Xi Jinping amid intense trade negotiations between the two economic superpowers.