U.S. wants to begin tariff negotiations with China: state media

The U.S. has reached out to China to begin tariff negotiations, according to state media.

The report comes after President Trump placed 145% tariffs on Chinese imports. China then placed more than 100% tariffs on U.S. imports and targeted U.S. companies that operate in China while also restricting exports of minerals used in batteries and other high-tech applications.

"The U.S. has proactively reached out to China through multiple channels, hoping to hold discussions on the tariff issue," according to Yuyuan Tantian, a social media account affiliated with state broadcaster CCTV, which cited anonymous sources.

China has quietly created a list of U.S. products that will be exempted from the country's 125% tariffs, such as select pharmaceuticals, microchips, and jet engines, Reuters reported.

"Before the U.S. takes any substantive action, China has no need to engage in talks with the U.S.," Yuyuan Tantian reported. "However, if the U.S. wishes to initiate contact, there is no harm at this stage for China to engage."

Trump said Friday his administration was negotiating a tariff deal with China and that Chinese President Xi Jinping had called him. However, China denied talks were occurring, claiming the U.S. was "misleading the public."

"[A]s far as I know, there have been no consultations or negotiations between China and the U.S. on tariffs," Chinese foreign ministry spokesperson Guo Jiakun said Wednesday.