WASHINGTON — U.S. President Donald Trump indicated a preference to avoid imposing additional tariffs on China, a departure from his campaign rhetoric which suggested increasing tariff rates on products from the United States' primary economic competitor.

In an interview broadcast by Fox News on Thursday, Trump discussed the potential for reaching an agreement with Chinese leader Xi Jinping regarding Taiwan and trade issues.

Trump emphasized his leverage, stating, 'I can do it because I have something they want: a goldmine.'

The President elaborated on the leverage he perceives with regard to tariffs, noting, 'We have great power over China, tariffs, and they do not want them.

That is tremendous power over China.'

Following his inauguration on Monday, Trump announced that his administration is considering imposing a 10% tariff on goods imported from China, the world’s second-largest economy, starting February 1. During his presidential campaign, Trump suggested that tariffs on Chinese imports could go as high as 60%.

In response, the Chinese Foreign Ministry spokesperson, Mao Ning, stated on Friday that the U.S. and China could resolve their differences through dialogue.

'Economic and trade cooperation between China and the United States benefits both parties,' she remarked, clarifying that China does not deliberately seek a trade surplus.

'Trade wars and tariffs have no winners and serve no one's interests,' Mao Ning added.

This comes amid a renewed focus on the economic relationship between the United States and China, underscored during an earlier November 2017 meeting where President Trump and President Xi discussed bilateral trade relations at the Great Hall of the People in Beijing.