On Thursday, US President Donald Trump said Washington, however, would slap 10-percent tariffs on a further $300 billion worth of Chinese imports starting 1 September.
Trump, speaking to reporters at the White House on Friday, said that China has to do a lot to turn things around in trade negotiations with the United States and that he may increase tariffs on Chinese goods. The US president also said that the United States must have a better trade deal with China, not just an even deal, according to Reuters.
Trump asserted that the impact of US tariffs on the Chinese economy is causing China's currency to "go to hell".
The Chinese Foreign Ministry said earlier that Beijing was ready to take countermeasures if the United States introduces more tariffs on Chinese goods. Beijing also called on Washington to stick to resolving the trade dispute through dialogue, while acting responsibly.
Beijing and Washington have been engaged in a trade war since June 2018, when Trump announced he was imposing tariffs on $50 billion worth of Chinese imports in a bid to balance the trade deficit. Since then, the two countries have introduced several rounds of reciprocal tariffs.
The presidents of the United States and China previously met on the sidelines of the Osaka G20 summit in June, during which Trump said he was ready to reach a mutually acceptable trade agreement. In less than a week, he announced 10 percent tariffs, blaming China for not keeping the promise to buy more US farm products.
