Amid the ongoing tariff war, China on Saturday said it has agreed to conduct a new round of trade talks with the US “as soon as possible”.

Earlier, Beijing’s chief negotiator, Vice Premier He Lifeng, and US Treasury Secretary Scott Bessent, spoke over a video call which involved “candid, in-depth and constructive exchanges”, state news agency Xinhua reported.

Last week, US President Donald Trump announced to impose additional levies of 100% on China’s U.S.-bound exports, along with new export controls on “any and all critical software” by November 1, nine days before existing tariff relief was set to expire.

Trump also said he would meet with Chinese President Xi Jinping in two weeks in South Korea – a meeting the U.S. president had cast doubt on last week – and expressed admiration for the Chinese leader.

Earlier, Bessent had said he would speak with his counterpart to discuss ongoing trade negotiations between the two countries.

“I think that things have de-escalated,” Bessent said. “We hope that China will show the respect that we have shown them, and I am confident that President Trump, because of his relationship with President Xi, will be able to get things back on a good course.”

(With inputs from agencies)