Trade war with U.S. would bring disaster, says Chinese minister

U.S. Dollar and China Yuan notes are seen in this

U.S. Dollar and China Yuan notes are seen in this

"Any trade war would not create winners and it would only bring disastrous results" for China, the United States and the rest of the world, Zhong said at a press conference on the sidelines of the National People's Congress, China's parliament.

Trump said in February that China is "killing us in trade".

He further pointed out that different statistical methods widen the USA trade deficit with China by around 20 percent, citing a research comparing the trade figures of China and U.S. "However, we are capable of handling any challenge, and we resolutely defend the interest of the country and the people".

China accounts for only a small fraction of United States steel imports, but its massive industrial expansion has helped create a global glut of steel that has lowered prices.

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He noted that China's top economic adviser Liu He visited the USA recently and held "candid and constructive" talks with American officials on bilateral trade issues. China is not one of those nations. -China trade deficit by $100 billion.

The main channel of dialogue on trade between the two nations, the Comprehensive Economic Dialogue, has been put on hold over U.S. frustration over a lack of progress.

More than 150,000 buyers from home and overseas are expected at the event, he said.

"We are still in talks, and we are sure that both sides will continue to talk about the next step", he added.

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Trump's response came after Malmstrom on Twitter described what she called "frank" but fruitless talks with US Trade Representative Robert Lighthizer in Brussels last Saturday.

Zhong also said he plans to meet with Japanese Economy, Trade and Industry Minister Hiroshige Seko to discuss trade and investment issues.

The CIIE is a public platform for global trade development, he said.

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On Thursday, Trump announced he was ordering the imposition of a 25 percent tariff on steel imports and 10 percent tariff on aluminum, but indicated certain countries might be exempted.

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