China ready to talk trade with US with a ‘calm attitude’

China’s Ministry of Commerce said Thursday that it is discussing the next round of face-to-face trade talks with the U.S., but maintained that any progress hinges on the conditions the Trump administration brings to the table.

“We firmly reject an escalation of the trade war, and are willing to negotiate and collaborate in order to solve this problem with a calm attitude,” ministry spokesman Gao Feng told reporters, according to CNBC, adding that trade delegations on both sides have maintained “effective” communication. 

{mosads}The comments come about a week after the latest salvo in the burgeoning trade war between Washington and Beijing.

President Trump earlier this month announced a 15 percent tariff on $300 billion worth of Chinese goods, firing back after China announced new tariffs on $75 billion worth of U.S. goods.

Gao on Thursday warned that Beijing would continue hitting back against any new tariffs, but said the focus, for now, is on removing existing levies on Chinese goods.

“China has plenty of means for counter measures, but under current situation, the question that should be discussed right now is about removing the U.S.′ new tariffs on $550 billion Chinese goods to prevent escalation of the trade war,” he said.

Gao did not confirm Trump’s claim last weekend that Chinese officials called him to say they were ready to make a deal. The Chinese Ministry of Foreign Affairs has said it was unaware of the call.

Trade delegations from the two countries last publicly met earlier this month with a planned meeting to take place again in September. However, the latest round of tariffs threw into question how close Washington and Beijing are to taking further steps in their negotiations.

Trump has sought to use tariffs to pressure China to reverse what he sees as unfair trade practices as well as tackle a host of other issues, intellectual property theft, market access and more.

Though the latest salvo rattled markets, leading to stark drops in the Dow Jones Industrial Average, Nasdaq composite and S&P 500, Trump has maintained he had to intervene to rectify the trade relationship with China.

“Whether it’s good for our country or bad for our country, short term, it had to be done,” Trump said this month. “Someone had to take on what China was doing to the United States economically.”