Beijing is "evaluating" an offer from Washington to hold talks over U.S. President Donald Trump's crippling tariffs, China's Commerce Ministry said on Friday, signalling a potential de-escalation in the trade war that has roiled global markets.

Beijing officially confirms the possibility of resuming trade dialogue with the US and hints at willingness to negotiate for the first time since tariff escalation, Bloomberg reports. China's Ministry of Commerce confirmed that Beijing is considering the possibility of resuming trade talks with the United States after repeated signals from

should be prepared and take action on issues such as correcting wrong practices and canceling unilateral tariff increases,’ an official says.