Trade Talks Should Be Based On Mutual Trust: China

China on Monday said any US trade talks must be based on "mutual respect" and equality after President Donald Trump said his administration was not in a hurry for a deal any time soon, but left open the possibility that the two nations could strike a deal someday.

"We always believe that any differences between any two countries should of course be resolved through friendly negotiations and consultations," foreign ministry spokesman Lu Kang said at a regular press briefing.

"We have seen different statements being made about the Sino-US economic and trade consultations by [different entities] including high-level people in the US," Lu said.

"Sometimes it is said that an agreement will be reached soon, and sometimes it is said it's difficult to reach an agreement," he said.

The spokesman said that China's position has "remained consistent".

"We have also always insisted on consultations between China and the United States, including economic and trade consultations, which must be based on mutual respect, equality and mutual benefit."

Trade tensions between the wold's top two economies reignited when Trump more than doubled tariffs on US$200 billion worth of Chinese merchandise – sparking retaliation from Beijing – and threatened further levies that could affect nearly all of China's remaining exports to the US. (AFP)