Outwardly at least, President Donald Trump continues to take a hard-line stance on China with tariffs of 145 percent and higher, even after easing off earlier trade offensives against other partners. China, which has vowed to "fight to the end," has responded with its own steep tariff hike and a range of other countermeasures.

China said on Friday that it was "evaluating" a U.S. offer to hold talks on tariffs, signaling a possible shift in the trade war between the world's two largest economies.