China says talks with U.S. Treasury Secretary Yellen are constructive and pragmatic | World News

Beijing: Chinese Vice Premier Liu He had a “constructive” dialogue with U.S. Treasury Secretary Janet Yellen on Tuesday, and the two sides agreed to strengthen “macro-policy communication” and coordination, according to a Chinese statement.

In a video call, Liu expressed concern about additional U.S. tariffs on Chinese goods, according to an official Chinese statement carried by state news agency Xinhua.

The Chinese side said in a statement that the exchange was “pragmatic and candid”.

The two sides had a pragmatic and candid exchange on the macroeconomic situation and the stability of the global industrial chain and supply chain. The exchanges are constructive,” Xinhua reported.

According to the readout, the two sides agreed that “the world economy is facing severe challenges” and it is of great significance for the two countries to strengthen coordination on issues.

“The Chinese side is concerned about the U.S. lifting of additional tariffs and sanctions on China and fair treatment of Chinese companies,” the statement added.

But the two sides agreed that it is very important to jointly maintain “…the stability of the global industrial supply chain is beneficial to China, the United States and the world.”

In its own brief statement, the U.S. Treasury Department said the exchange was “candid and substantive,” but made no mention of China’s concerns about U.S. tariffs.

“In a candid and substantive dialogue, they discussed macroeconomic and financial developments in the United States and China, rising commodity prices and the global economic outlook amid challenges to food security,” the U.S. statement said.

Yellen added in her statement that it “candidly raised concerns, including the impact of Russia’s war on Ukraine on the global economy and China’s unfair, non-market economic practices.”

Liu Xiaobo, a member of the Political Bureau of the CPC Central Committee and China’s top decision-making body, has served as China’s trade envoy for the China-US Comprehensive Economic Dialogue since 2018.

In addition to broad differences over trade, the two countries are also embroiled in a number of disputes, including in the South China Sea, Washington’s relationship with Taiwan (which China claims is a rebel region) and human rights in Xinjiang and Tibet.