As President Donald Trump expressed optimism about a new trade deal, China said on Wednesday that “equality” and “respect” are vital to the negotiation process between the two countries.

There will be “no winners” in the intensifying trade war between Beijing and Washington, Chinese Foreign Ministry spokesperson Guo Jiakun said, adding that China will not give in to Trump’s demands.

“This tariff war is launched by the U.S.,” Guo said at a press conference. “We have made it very clear that China does not look for a war, but neither are we afraid of it. We will fight, if fight we must. Our doors are open, if the U.S. wants to talk.”

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