United States and China launch economic and financial working groups with aim of easing tensions

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United States and China launch economic and financial working groups with aim of easing tensions
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The U.S. Treasury Department and China’s Ministry of Finance have launched a pair of economic working groups in an effort to ease tensions and deepen ties between the nations.

Treasury Secretary Janet Yellen, left, shakes hands with Chinese Vice Premier He Lifeng during a meeting at the Diaoyutai State Guesthouse in Beijing, China, July 8, 2023.

Led by Treasury Secretary Janet Yellen and Vice Premier He Lifeng, the working groups will be divided into economic and financial segments.The working groups will “establish a durable channel of communication between the world’s two largest economies,” Yellen said in a series of tweets detailing the announcement.

Yellen, along with other Biden administration officials, traveled to China this year after the Democratic president directed key senior officials to “maintain communication and deepen constructive efforts after he met with Xi in Bali last year. Areas of disagreement between the nations have included tariffs, technology and China’s claims to self-governing Taiwan and large parts of the South and East China Seas.

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