US, China economic leaders raise ‘serious concerns’ in first call
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US Treasury Secretary Scott Bessent (left) and his Chinese counterpart He Lifeng agreed to remain in communication going forward.
PHOTOS: BLOOMBERG, AFP
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WASHINGTON - US Treasury Secretary Scott Bessent and his Chinese counterpart He Lifeng raised mutual concerns on trade and economic issues in their introductory call on Feb 21, as tensions between the world’s two biggest economies simmer under President Donald Trump’s second term.
The talks came shortly after Mr Trump imposed additional tariffs on imports from China over its alleged role in the deadly fentanyl trade, which Beijing has pushed back against.
“Secretary Bessent expressed serious concerns about the PRC’s counternarcotics efforts, economic imbalances, and unfair policies,” said a Treasury Department readout, referring to the People’s Republic of China.
Meanwhile, Chinese Vice-Premier He Lifeng “expressed serious concerns about the recent restrictive measures, such as increased tariffs, imposed on China by the United States”, according to state broadcaster CCTV.
Mr Trump has wielded the threat of tariffs against allies and adversaries alike – including China – since taking office in January.
He imposed additional customs duties of 10 per cent on all products imported from China at the start of February, and has threatened further moves while also suggesting a trade deal with Beijing is possible.
But Beijing has strongly opposed tariffs imposed “under the pretext of the fentanyl issue”, according to its foreign ministry, arguing that such levies cannot solve what it called a US domestic problem.
Minutes after the fresh US tariffs took effect in February, China unveiled levies on imports of US energy, vehicles and equipment.
Protecting US economy
In the call on Feb 21, Mr Bessent also stressed the Trump administration’s “commitment to pursue trade and economic policies that protect the American economy, the American worker, and our national security”.
But Mr Bessent and Mr He agreed to remain in communication going forward.
“Both sides recognised the importance of China-US economic and trade relations, and agreed to continue to maintain communication on issues of mutual concern,” CCTV said.
The call took place at Mr Bessent’s request, according to the Chinese broadcaster.
Mr Bessent’s predecessor Janet Yellen held several meetings and calls with Mr He, and visited Beijing in an effort to stabilise bilateral economic ties ahead of announcing targeted tariff hikes.
Washington has long accused Beijing of failing to crack down on the production of chemical components that are typically exported to Mexico and made into fentanyl before being transported into the United States.
Asked on Feb 20 about Mr Trump’s comments on a prospective trade deal,
