Beijing is amenable to negotiations but cautions that "we will never sit idly by" Trump's tariffs on China, which currently reach 145%.

According to a recent White House official, the US tariff rate on Chinese goods now effectively amounts to 145 percent. China, meanwhile, issued a warning, saying it will not back down from a trade and tariff war.

China's Commerce Minister Wang Wentao discussed how to respond to the US "reciprocal tariffs" with his counterparts in Saudi Arabia and South Africa on Friday.

According to an official, China is willing to have discussions with the US, but they must be based on equality and respect for one another. "China wants to make a deal," US President Donald Trump told the media the day before the declaration. They simply don't know how to approach it quietly.