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October 27, 2021

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China, US hold talks on trade, bilateral relations

CHINA’S Vice Premier Liu He spoke with US Treasury Secretary Janet Yellen yesterday via video call and talked about the macroeconomic situation and bilateral relations, according to a statement from China’s commerce ministry.

The two sides conducted practical, candid, and constructive exchanges on macroeconomic situation and bilateral and multilateral cooperation.

Both agreed that as the world’s economic recovery is at a critical juncture, it is important for China and the United States to strengthen macro policy communication and coordination.

The Chinese side expressed concern over issues including the lifting of additional tariffs and sanctions by the US side and fair treatment of Chinese enterprises.

Yellen “frankly raised issues of concern,” the US Treasury later said in a short separate statement, which did not elaborate on the concerns but added that Yellen looked forward to future discussions with Liu.

Both sides said it was important for the two countries to strengthen communication and coordination on macroeconomic policies, according to the Chinese side’s readout.

Liu, who has led China’s negotiations in Sino-US trade talks since former US President Donald Trump embarked on a trade war with China, has held talks with both Yellen and US Trade Representative Katherine Tai earlier this year.

Engagement between the trade and economic chiefs of the world’s largest economies has increased since Joe Biden became US president in January.

Last week, the ministry said that the country would welcome a move by the US to lift tariffs on some Chinese goods, adding that the two sides should work together to create conditions for the implementation of the phase-one trade deal.


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