China has said it's evaluating approaches from US officials to start negotiations about tariffs, a potential deescalation in the trade war that has raised hopes formal trade talks could start soon. "If we fight,

China’s Commerce Ministry says Beijing is evaluating multiple approaches by the Trump administration for trade talks.

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.

For the first time, President Donald Trump is acknowledging his tariffs on China could cause shortages of consumer goods and higher prices. It comes as the U.S. economy shrank in the first three months of this year,