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U.S. president says China wants to negotiate over trade war

BIARRITZ, France, Aug 26 (Reuters) - President Donald Trump said on Monday China had contacted U.S. trade officials overnight to say they wanted to return to the negotiating table, welcoming the news as a very positive development for the world.

Speaking on the sidelines of a summit of major industrialised nations, Trump hailed Chinese President Xi Jinping as a great leader and said he welcomed his desire for a deal and for calm.

An increasingly bitter trade war between the world's two largest economies sharply escalated on Friday, with both sides levelling more tariffs on each other's exports. (Reporting by Jeff Mason; Writing by Crispian Balmer; Editing by)