The Chinese foreign minister, in a swipe at the Trump administration's trade policies, warned on Friday that tariffs and trade disputes could plunge the world into recession, adding that Beijing is committed to resolving them in a "calm, rational and cooperative manner."

Addressing the 74th session of the United Nations General Assembly, State Councilor and Foreign Minister Wang Yi said, "Erecting walls will not resolve global challenges, and blaming others for one's own problems does not work. The lessons of the Great Depression should not be forgotten."

Taking a clear swipe at U.S. President Donald Trump, who started a trade war with China nearly 15 months ago, Wang said, "Tariffs and provocation of trade disputes, which weigh on global industrial and supply chains, serve to undermine the multilateral trade regime and global economic and trade order."

"They may even plunge the world into recession," he added. 

In successive rounds of tit-for-tat tariffs, the U.S. and China have levied punitive duties on hundreds of billions of dollars of each other's goods, roiling financial markets and threatening global growth.

"Regarding economic and trade frictions and differences, China is committed to resolve them in a calm, rational and cooperative manner, and is willing to demonstrate utmost patience and goodwill," Wang said. 

He continued, "Should the other side act in bad faith, or show no respect for equal status or rules in negotiations, we will have to make necessary responses to safeguard our legitimate rights and interests."

A new round of high-level talks between China and the U.S. is expected in Washington in the first half of October.