Asia - Pacific

Top Chinese, US officials discuss global supply chains

Chinese vice premier, US treasury secretary hold 'pragmatic, candid' conversation, according to reports

Riyaz ul Khaliq   | 05.07.2022
Top Chinese, US officials discuss global supply chains

ISTANBUL

Top Chinese and US officials on Tuesday held a virtual meeting to discuss the global economic situation.

Chinese Vice Premier Liu He, President Xi Jinping’s top economic aide, held a meeting via video link with US Treasury Secretary Janet Yellen, with Beijing describing the conversation as “pragmatic and candid.”

Liu leads the Chinese side of the China-US comprehensive economic dialogue and the call for the meeting was made by Washington, Chinese state-run Xinhua News reported.

“The two sides had a pragmatic and candid exchange of views on such topics as the macroeconomic situation and the stability of the global industrial and supply chains. Their exchanges are constructive,” the report said.

Amid severe challenges facing the world economy, the two sides noted: “It is of great significance to strengthen macro-policy communication and coordination between China and the United States.”

“Jointly maintaining the stability of the global industrial and supply chains is in the interests of both countries and the whole world,” they added.

However, the Chinese side expressed concern over issues including the additional tariffs on China and sanctions by the US side.

Washington has blacklisted several Chinese companies from doing business in the US.

During the Trump administration, the US also imposed additional tariffs on Chinese imports, however, the Biden administration is considering ending some of those tariffs.

Meanwhile, Zhao Lijian, spokesperson for China's Foreign Ministry, said lifting "all of the US additional tariffs on Chinese goods is beneficial to both countries and the world."

"The US claim of 'non-market' economic practices in China is inconsistent with the facts," Zhao told a news conference.

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