Economic Showdown: A Glimpse into U.S.-China Trade Talks

Top economic officials from the U.S. and China engaged in 'candid' discussions on Thursday, addressing grievances about each other's trade policies before a planned meeting between U.S. President Donald Trump and Chinese President Xi Jinping in May, according to statements from the U.S. Treasury and Chinese state media.

U.S. Treasury Secretary Scott Bessent expressed concerns over China's new extraterritorial regulations, which impact global supply chains. These regulations have alarmed U.S. businesses, and Bessent criticized them during talks with Chinese Vice Premier He Lifeng. This marks a notable departure from the Trump administration's previous silence on the issue.

Chinese state broadcaster CCTV reported that He Lifeng raised serious concerns about recent U.S. trade measures. Despite the tensions, both countries aim to strengthen cooperation and manage their differences before the upcoming summit. The video call highlighted continuing efforts to resolve trade issues and expand pragmatic cooperation between the two global economic powers.

(With inputs from agencies.)