Chinese Vice Premier Liu is China top trade negotiator.

On Monday, Chinese Vice Premier Liu He stated, Beijing is willing to resolve its trade dispute with the Washington through negotiations.

In what are likely to be signs that U.S. trade action is hammering China’s economy and that Beijing prefers to tone down the impact of U.S. trade action as a face saving measure for its own internal posturing, China stated it resolutely opposes any escalation in the trade conflict.

Incidentally, Liu is China’s top trade negotiator.

Liu made these comments at a tech conference in Chongqing, southwest China, as per the Chongqing Morning Post.

His comments come in the wake of U.S. President Donald Trump announcing last week a further 5% tariff on $550 billion of Chinese goods; Trump slapped additional tariffs following China unveiling a retaliatory tariff on $75 billion worth of U.S. products.

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