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China Urges US to Address Economic and Trade Misunderstandings

Beijing: China on Tuesday urged the United States to "reduce misunderstanding" regarding the economic and trade relations between the two nations, expressing hopes for enhanced cooperation. "On tariffs, China's position is consistent and clear," Chinese Foreign Ministry spokesman Guo Jiakun stated during a news conference in Beijing.

According to Anadolu Agency, Guo's remarks came in response to US Treasury Secretary Scott Bessent's comments on Monday, where he suggested that upcoming tariff talks between Beijing and Washington could include discussions on China's purchases of oil from Russia and Iran. Bessent expressed concerns over China being a significant purchaser of oil from these sanctioned countries during an interview with CNBC.

Guo Jiakun emphasized the importance of building consensus, reducing misunderstanding, and enhancing cooperation through communication and dialogue to promote a steady and sustainable development of bilateral relations. He expressed hope that the US would collaborate with China to implement the important common consensus reached by the two presidents during a recent phone call and to utilize the economic and trade consultation mechanism effectively.

The trade tensions between the two countries escalated earlier this year, with both nations imposing high tariffs on each other's goods. However, talks in Geneva and London, led by Bessent and Chinese Vice-Premier He Lifeng, led to a temporary reduction of tariffs and an agreement to work towards a trade deal.

Further easing of tensions was achieved following a phone call in June between US President Donald Trump and Chinese President Xi Jinping, which led to a face-to-face meeting between US Secretary of State Marco Rubio and Chinese Foreign Minister Wang Yi.