China and the United States held consultations on trade and economic issues

China and the United States held frank, in-depth and constructive consultations on trade and economic issues, including tariffs and investments. This was reported by Xinhua news agency on March 17.

During the consultations, Vice Premier of the State Council of the People's Republic of China He Lifeng recalled the decision of the U.S. Supreme Court that the imposition of customs duties is illegal. At the same time, according to him, the American side soon after imposed an additional 10% duty on imports, and also took a number of negative measures against China.

The U.S. representatives agreed that stable trade and economic ties between the two countries affect global economic growth. In this regard, they stated that both sides should reduce friction and avoid escalation.

"The parties agreed <...> to intensify dialogue and communication, properly resolve differences, expand practical cooperation, and promote the sustainable, stable and positive development of bilateral trade and economic relations," the publication says.

Between two fires: how the war in the Middle East threatens China

Beijing is considered one of Tehran's main diplomatic allies.

The day before, White House press Secretary Caroline Leavitt announced that US President Donald Trump may postpone a visit to China scheduled for late March or early April due to the ongoing war in Iran.

With his tariff policy, Trump has reduced the country's trade with almost 40% of the world's countries. Thus, in East Asia, trade fell the most with Laos (-54%), Brunei (-24.2%) and China (-23.2%). In Central Asia — with Mongolia (-43.6%), Tajikistan (-29.3%) and Kazakhstan (-15.7%). In the Middle East, the decline affected Yemen (-55.9%) and Iran (-38.5%).

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