US government hearings on proposed new tariffs on around US$300 billion of Chinese goods came to a close on Tuesday.

Both Beijing and Washington will need to compromise if they are to reach a trade deal.

China said on Thursday it hoped U.S. officials would bring a problem-solving attitude to renewed trade talks in advance of a meeting between Presidents Donald Trump and Xi Jinping next week in Japan.

China and the United States are rekindling trade talks ahead of a meeting next week between Presidents Donald Trump and Xi Jinping, cheering financial markets on hopes that an escalating trade war between the two countries would abate.

US-China relations have deteriorated since Trump accused Beijing in early May of reneging on commitments to change its ways of doing business with the rest of the world

Hanoi vows to crack down after discovering 'dozens' of types of products subject to fraud designed at dodging Trump's import levies

Trade negotiations with China could resume soon, in the flash of a tweet. But it will take a long time to reach a deal, and much longer to seal it.

US President Donald Trump said on Friday (June 7) night that his country has reached a signed agreement with Mexico to avert the threat of tariffs on all Mexican imports next week.

The International Monetary Fund has called for a speedy end to the deepening trade war between the United States and China after calculating that the tit-for-tat tariffs will cost $455bn (£357.5bn) in lost output next year – more than the size of South Africa’s economy.

President Donald Trump's tariffs are driving some manufacturing out of China, but much of it remains outside of the United States.