"We will not flinch from such a fight," Mr Xi told former US officials and other foreign dignitaries in Beijing, adding: "We want to work for a phase-one agreement on the basis of mutual respect and equality."
He also said China has been trying to avoid a trade war, but would not hesitate to retaliate when necessary.
Economists warn that a prolonged trade dispute between the world's two largest economies is elevating risks to the global economy by disrupting supply chains, curtailing investment and curbing business confidence.
Completion of a phase one deal could slide into next year, trade experts and people close to the White House have told Reuters, with Beijing asking for more extensive tariff rollbacks and Washington countering with increased demands of its own.
"When necessary we will fight back, but we have been working actively to try not to have a trade war. We did not initiate this trade war and this is not something we want," he said.
Mr Xi was responding to questions from representatives of the New Economy Forum in Beijing.
China has invited top US trade negotiators for a new round of face-to-face talks in Beijing, the Wall Street Journal reported yesterday citing unidentified sources.
It also said Beijing hoped the talks could take place before next Thursday's Thanksgiving holiday in the United States.
US officials have indicated they would be willing to meet in person but have not committed to a date, the report said, and they would be reluctant to travel for the discussions unless China made it clear it would make commitments on intellectual property protection, forced technology transfers and agricultural purchases.
Officials from Beijing had suggested Mr Xi and his US counterpart Donald Trump might sign a deal early next month.
Some experts said the next date to watch was 15 December, when US tariffs on about $156 billion in Chinese goods are set to take effect, including holiday gift items such as electronics and Christmas decorations.
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