SHANGHAI (Reuters) -Chinese President Xi Jinping will visit Shanghai this week, two sources said, showcasing his country's main international financial hub at a time when the trade war with the U.S. has raised the stakes for growth.

Standing outside his friend’s cupcake shop, he says Donald Trump’s levies are a sign that America feels threatened by China’s rise. America’s power is declining, he says. “What you feel in today’s world is that hegemony is very hard to achieve.

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.