President Donald Trump’s softening stance towards China has eased the worst fears of American businesses in the country about the prospects of a trade war, prompting US executives to refocus their attention on a drive to ease Chinese investment restrictions.

“I don’t think [trade tariffs] are going to be one of the top priorities because my sense is the administration has probably seen this may not be the most effective way to apply pressure,” William Zarit, chairman of the American Chamber of Commerce in Beijing, told reporters in the Chinese capital on Tuesday. He called it a “hot topic” during his earlier meetings in Washington but said it was no longer a serious option.

“The administration is looking for a number of other points of leverage and points of pressure to apply to the Chinese to persuade China to open their markets and level the playing field,” Mr Zarit said.