China’s Liu, US Treasury’s Yellen hold ‘candid’ call on trade

BEIJING, China—China’s Vice Premier Liu He held a call with US Treasury Secretary Janet Yellen Tuesday to discuss trade issues, with both sides highlighting points of concern in their relationship as they try to tread a new path after the upheaval of the Donald Trump era.

In a video call, the two held “pragmatic, candid and constructive exchanges on the macroeconomic situation and cooperation in multilateral and bilateral fields,” said China’s commerce ministry in a statement.

Liu expressed concern about US tariffs and sanctions, and its treatment of Chinese companies, the statement said.

Relations between Beijing and Washington nosedived under former president Donald Trump, who imposed tariffs on Chinese products worth billions of dollars in 2018, citing trade practices he deemed as “unfair.”

After Joe Biden took power in January, he launched a review of the US trade strategy and tariffs initiated by Trump.

But his administration also says that China’s massive state subsidies for national companies, intellectual property theft and other factors create a heavily uneven playing field in trade.

According to a readout of the call from the US Treasury, Yellen “frankly raised issues of concern” in the meeting and the two sides recognized that “developments in our two economies have important implications for the global economy.”

Earlier this month, US Trade Representative Katherine Tai spoke to Liu for a second time to discuss Chinese commercial practices.

Last week China promised the World Trade Organization it would further open its vast market, with a swift counter from Washington that it believed Beijing showed “no inclination to change.”

Topics: China , Vice Premier Liu He , US Treasury Secretary Janet Yellen , US tariffs and sanctions
COMMENT DISCLAIMER: Reader comments posted on this Web site are not in any way endorsed by Manila Standard. Comments are views by readers who exercise their right to free expression and they do not necessarily represent or reflect the position or viewpoint of While reserving this publication’s right to delete comments that are deemed offensive, indecent or inconsistent with Manila Standard editorial standards, Manila Standard may not be held liable for any false information posted by readers in this comments section.
AdvertisementGMA-Congress Trivia 1