China’s Ministry of Commerce spokesman Gao Feng said today that “China has ample means for retaliation, but thinks the question that should be discussed now is about removing the new tariffs to prevent escalation of the trade war.” And, “China is lodging solemn representations with the U.S. on the matter.”

Additionally, Gao reiterated the usual rhetoric that “escalation of the trade war won’t benefit China, nor the US, nor the world,” and “the most important thing is to create the necessary conditions for continuing negotiations.” He also repeated Vice Premier Liu He’s comment that China is “willing to solve the problem through consultation and cooperation with a calm attitude, but firmly opposes escalation of trade war.”

The comments suggested that China is backing down from its hard-line stance after recent escalation by US President Donald Trump. Trump tweeted earlier this month that 25% tariffs on some USD 250B in imports from China would rise to 30% come Oct. 1. He also lifted planned levies on USD 300B in Chinese goods due on Sept. 1 and Dec. 15 by 5%.

The US Trade Representative formally announced the section 301 tariffs on Chinese imports, targeting products related to the Made in China 2025 policy. USTR said these “strong defensive actions” are to ” protect America’s leadership in technology and innovation against the unprecedented threat posed by China’s theft of our intellectual property, the forced transfer of American technology, and its cyber attacks on our computer networks.” And it condemned that “China’s government is aggressively working to undermine America’s high-tech industries and our economic leadership through unfair trade practices and industrial policies like ‘Made in China 2025.'”

There are two set of tariffs lines. The first set contains 818 lines of the original 1,333 lines announced in April. This set covers around USD 34B of Chinese imports. 25% tariffs will be imposed starting July 6, 2018. The second set contained 284 proposed tariff lines, covering around USD 16B in Chinese goods. This set will undergo further public view before finalizing.

Altogether they’re valued around USD 50B. and focuses on products from industrial sectors that contribute to or benefit from the “Made in China 2025” industrial policy, which include industries such as aerospace, information and communications technology, robotics, industrial machinery, new materials, and automobiles. The list does not include goods commonly purchased by American consumers such as cellular telephones or televisions.