China says door for US trade talks 'wide open'

China said Wednesday that it was willing to engage in trade talks with Washington, a day after US President Donald Trump signalled that hefty tariffs he imposed on the country would come down after the sides reach a deal.

Since Trump began a second term in January, he has unleashed a tit-for-tat trade battle with Beijing that has seen US levies on many Chinese goods reach 145 percent.

The fierce trade war between the world's top two economies has rattled markets and raised fears of a global recession.

Trump acknowledged Tuesday that the level of US tariffs on China was currently "very high", saying that they would "come down substantially" after a deal is struck.

Asked about the remarks, Beijing said that tariff and trade wars have "no winners", repeated previous comments.

"We do not wish to fight, nor are we afraid of fighting," said foreign ministry spokesman Guo Jiakun at a regular press conference, adding that China would "fight to the end", if necessary.

"The door for talks is wide open," he said.

But, he warned, "saying on the one hand that they want to reach an agreement with China, while on the other hand continuing to exert extreme pressure is not the correct way to have dealings with China".

Xi says tariffs 'hurt' multilateral trade

Chinese President Xi Jinping said Wednesday tariffs "hurt" the multilateral trading system as he hosted his Azerbaijani counterpart for talks in Beijing, state media said.

Tariff and trade wars "undermine the legitimate rights and interests of all countries, hurt the multilateral trading system, and impact the world economic order", he told Azerbaijani President Ilham Aliyev, state news agency Xinhua reported.

Beijing and Washington have been embroiled in a blistering trade war since US President Donald Trump this month slapped a 145 percent blanket tax on Chinese imports.

China responded with a 125 percent duty on goods from the United States.

Beijing's commerce ministry this week warned other nations to be wary in seeking a deal with Washington.

"China firmly opposes any party reaching a deal at the expense of China's interests," a ministry spokesperson said Monday in a statement.

"Appeasement will not bring peace, and compromise will not be respected," the statement said.

On Wednesday, Xi said that "despite a constantly changing international situation", China and Azerbaijan had maintained close ties.

A day earlier, in phone calls with his British and Austrian counterparts, Chinese foreign minister Wang Yi urged Britain and the European Union to help in defending multilateral trade.