China's central bank governor on Friday criticized the U.S. for threatening global financial stability with its "recent abuse" of tariffs, in the wake of recent moves seen by both sides as efforts to de-escalate their trade war.

China called for all "unilateral" U.S. tariffs to be cancelled on Thursday, as signs emerged that the Trump administration may de-escalate its trade war with Beijing. China also clarified it has not held trade talks with Washington despite repeated comments from the U.

China has granted some tariff exemptions on American imports and is considering lifting other duties, according to the local US business lobby group, in a possible sign of relief for companies hit by Donald Trump’s trade war.

An American business group said that Chinese officials had been surveying companies about American products that are crucial to their supply chains.

Levies on certain U.S.-made microchips have been dropped, importers say. Meanwhile, China denied President Trump’s claims that talks to reduce tariffs are happening.

China appears to have quietly rolled back retaliatory tariffs of 125% on some semiconductors made in the United States, according to details provided to CNN on Friday by three import agencies in the southern technology hub of Shenzhen.