China’s leaders are downplaying the potential impact from U.S. President Donald Trump’s trade war, saying they have the capacity to protect jobs and limit damage from higher tariffs on Chinese exports.

By Laurie Chen, Michael Martina BEIJING/WASHINGTON (Reuters) -When the leaders of some of the world's largest companies flocked to Beijing for a business forum last month, their main purpose was a coveted meeting with Chinese leader Xi Jinping.

President Donald Trump's tariff onslaught raised levies on China to 145% in early April, since then cargo shipments have plummeted, perhaps by as much as 60%. That drastic reduction in goods from one of the largest US trading partners hasn't been felt by many Americans yet,