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In a remarkable development, Trump takes a step back and China opens the door to trade talks.

China has shown its willingness to resume trade talks with the United States after a day of U.S. President Donald Trump's announcement that he does not intend to take a hard line with China in tariff negotiations, expressing his optimism about the possibility of reaching an agreement very quickly, which represents a notable development in trade relations between the two largest economies in the world.

According to a report from the Wall Street Journal, the White House is considering reducing tariffs on China by between 50% and 65%.