After three months of bluster and huge tariffs on both sides, Beijing and the Trump administration are softening their language on holding negotiations.

This contradicts U.S. President Donald Trump 's claim that his Chinese counterpart, Xi Jinping, reached out to him in a phone call. Meanwhile, state-affiliated media has alleged it is Washington that has quietly made the first move.

President Donald Trump on Wednesday acknowledged that his tariffs could result in fewer and costlier products in the United States, saying American kids might "have two dolls instead of 30 dolls," but he insisted China will suffer more from his trade war.