Beijing is considering ways to address the Trump administration's concerns about China's role in the fentanyl trade, potentially providing an off-ramp from hostilities to allow trade talks to start, the Wall Street Journal reported on Friday.

Beijing is "evaluating" an offer from Washington to hold talks over U.S. President Donald Trump's crippling tariffs, China's Commerce Ministry said on Friday, signalling a potential de-escalation in the trade war that has roiled global markets.

Beijing-backed social media accounts say U.S. officials have reached out to Chinese counterparts through multiple channels to discuss trade, as the world watches for any sign of tariff talks between the two sides.

KEY TAKEAWAYS China said it is "currently evaluating" U.S. proposals to start trade talks, opening the door to negotiations between Beijing and Washington for the first time since tariffs between the two began escalating.