"Lately there has been a lot of talk about a potential trade war between the United States and China, however, we believe that if such a war began between the United States and China it would serve no purpose, neither side would win," Li said.
According to the Chinese premier, the very term "trade war" contradicts the principles of trade relations, which are based on consultations and dialogue.
"I hope both sides will remain rational and will not make any spontaneous decisions in order to avoid a trade war," the premier added.
READ MORE: US-China Trade War Fears Grow: 'It Would Mean Slower Growth in Both Countries'
US President Donald Trump has been working on a new US trade policy in order to make US trade relations more advantageous for Washington. In terms of relations with China, the United States introduced anti-dumping and countervailing duties on China's aluminum foil imports in February. The Chinese Ministry of Commerce expressed its strong disappointment with this decision.
Earlier in March, Trump announced a plan to impose duties on all steel and aluminum imports.