China’s Ministry of Commerce (MOFCOM) announced at a press conference on June 3 that China and the US have resumed talks on trade and the economy.
The announcement came after China’s deputy premier Liu He held virtual talks with US Trade Representative Katherine Tai and US Treasury Secretary Janet Yellen, which took place on May 27 and June 2.
MOFCOM described the dialogues as “professional, frank and constructive.” The two sides acknowledged the importance of bilateral economic and trade relationships and exchanged ideas on the world’s macroeconomy and other concerns. During the June 2 talks, the two sides discussed bilateral and multilateral cooperation in different fields.
Both sides agreed to keep the talks on track and make joint efforts to solve specific problems for global producers and consumers.
Analysts said the latest talks are helpful to promote mutual understanding between China and the US and provide a way for the two powers to solve disputes.
According to China’s General Administration of Customs, trade volume between China and the US hit 1.44 trillion yuan (US$0.2t) from January to April, 50.3 percent more than that in the same period in 2020, with China’s exports to the US growing by 49.3 percent and imports from the US growing by 53.3 percent.
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