Despite mounting financial pressure, China says it won’t negotiate until the Trump administration shows “sincerity” by canceling tariffs on its goods.

Officials in Beijing said they want Washington to “show sincerity,” as it evaluates purported overtures by the U.S. to start trade negotiations.

China has said it's evaluating approaches from US officials to start negotiations about tariffs, a potential de-escalation in the trade war that has raised hopes that formal trade talks could start soon.