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.

The U.S. and China held talks on Thursday morning to help resolve an ongoing trade war, President Donald Trump said.

US President Donald Trump has delighted global investors with the possibility of a reduction in tariffs on Chinese imports. But his apparent willingness to de-escalate America’s trade war with the world’s second-biggest economy has been brushed off by government officials in China and ridiculed online as “chickening out.