Talks or no talks: Who blinks first in US-China trade war?

On Friday morning, a spokesperson for China's ministry of commerce announced that Beijing was assessing the possibility of tariff negotiations with the United States. It was news the rest of the world had been waiting to hear as astonishingly high tariffs - up to 245% on some Chinese exports to the US - throttle trade between the world's two biggest economies, raising the spectre of a recession."