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.

China called for all "unilateral" U.S. tariffs to be cancelled on Thursday, as signs emerged that the Trump administration may de-escalate its trade war with Beijing.

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.