China has appointed a new trade negotiator in the midst of its tariff fight with the United States as the world’s two largest economies steadily increase tariffs on each other’s goods.

Chinese leader Xi Jinping has said his nation is “not afraid,” in his first public comment on the escalating trade war with the United States, as Beijing raised tariffs on US goods to 125%.

China’s leader Xi Jinping has released a letter denouncing tariff and trade wars and urging the multilateral trading system, stable global industrial and supply chains, and open and