Beijing’s Finance Ministry said in a statement that Washington’s latest tariffs, set to start Sept. 1, violated an agreement between President Donald Trump and Chinese President Xi Jinping to resolve their disputes through negotiations.

China’s Foreign Ministry spokeswoman, Hua Chunying, said, “We hope the US will meet China halfway, and implement the consensus of the two heads of the two countries in Osaka.”

Xi’s government would likely stall on more talks, believing Trump is eager to end the trade war as soon as possible with the stock market swinging wildly in recent days, Wu Xinbo, director of the Center for American Studies at Fudan University in Shanghai, told The South China Morning Post.

But Trump said later Thursday that any agreement must meet US demands, suggesting the possibility of a protracted stalemate.

“China, frankly, would love to make a deal, and it’s got to be a deal on proper terms. It’s got to be a deal, frankly, on our terms. Otherwise, what’s the purpose?” Trump said in an interview on New Hampshire radio station WGIR.

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