China has called on the US to cancel its sweeping tariffs on Chinese goods entering the country as a sign that the President Donald Trump is serious about resolving the trade war between the two countries. A Chinese official said there had been no trade talks with the US, despite suggestions otherwise from the Trump administration.

Beijing continues to be willing to endure economic hardship to put pressure on the U.S., even as the Trump administration hints at a more conciliatory approach.

Mr Trump’s decision to consider backing down in his trade war comes as the harm it has caused America’s economy becomes clearer. Trade shipments between China and the US are collapsing and a critical survey of American businesses shows growth in activity slumped to a 16-month low.