China will attend the next round of trade talks with US counterparts in Washington later this month, in the latest bid to defuse a conflict that has set world markets on edge.

A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will hold talks with US representatives led by Under Secretary of Treasury for International Affairs David Malpass, the Ministry of Commerce said in a statement on Thursday.

China and the United States have implemented several rounds of tit-for-tat tariffs on each others goods since the start of the year and have threatened further tariffs on exports worth hundreds of billions of dollars.

The announcement by the Chinese commerce ministry of the planned meeting in late August comes after a lull in talks between the two sides. The last official round of talks was in early June when US Commerce Secretary Wilbur Ross met Chinese Vice Premier Liu He in Beijing.

There was no immediate response from the US Treasury to the announcement from Beijing.