China said it is assessing the possibility of trade talks with the US, the first sign since Donald Trump hiked tariffs last month that negotiations could begin between the two sides.

At the time of writing, the US has not denied China's claims that it has been attempting to initiate talks. But the fact that both sides have now made that assertion indicates there is "some sort of contact", according to Mr Chong.

After three months of bluster and huge tariffs on both sides, Beijing and the Trump administration are softening their language on holding negotiations.