US-China Officials to Hold Talks Before Trump Returns

The talks come as Treasury Secretary Janet Yellen stressed in an interview Wednesday the need for "ongoing communications at all levels" to avoid needless worsening in relations between the world's two biggest economies.

Economic and trade tensions between Washington and Beijing have continued to flare during Biden's time in office.

But temperatures could rise further under Trump, who has threatened sweeping tariff increases on Chinese goods ahead of his presidency, most recently over concerns surrounding the flow of illegal fentanyl into the United States.

For now, U.S. officials are seeking to reinforce communication channels on economic issues.

Treasury Under Secretary for International Affairs Jay Shambaugh was due to meet yesterday Chinese Vice Minister of Finance Liao Min for an economic working group meeting on the sidelines of Group of 20 talks in South Africa, said the Treasury Department.

Treasury officials and representatives from other agencies will travel to the eastern Chinese city of Nanjing as well, for a financial working group meeting taking place Sunday and Monday.

"This upcoming meeting will continue our work to strengthen efforts to preserve financial stability and counter illicit finance threats like fraud and drug and human trafficking," said Treasury Assistant Secretary for International Finance Brent Neiman, who is leading the US team.

China's delegation is expected to be headed by People's Bank of China deputy governor Xuan Changneng.

Source: HDN