China expresses serious concern over US trade restrictions

Chinese Vice Premier He Lifeng expressed “serious concern” Thursday over recent US economic and trade restrictions on China during a video call with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer.

The two sides held “candid, in-depth and constructive exchanges” on implementing the consensus reached by the two countries’ presidents during their meeting in Beijing, according to China’s state-run Xinhua news agency.

They also discussed “maintaining stable economic and trade relations, expanding practical cooperation and properly addressing each other’s concerns in the next stage,” the agency said.

The Office of the US Trade Representative recently announced a 12.5% tariff on Chinese imports.

The officials agreed to make “further leverage” the China-US economic and trade consultation mechanism to strengthen communication, “build mutual trust, dispel doubts,” and expand cooperation.

They also pledged to promote the “stable and positive development” of bilateral economic and trade relations and contribute to building a constructive relationship marked by strategic stability.

The discussion comes ahead of Chinese President Xi Jinping’s planned visit to the US in late September. US Secretary of State Marco Rubio recently said the summit remained on track despite President Donald Trump’s accusation that China had interfered in US elections.

Under an agreement reached after a May meeting between Trump and Xi, Beijing agreed to address Washington’s concerns over supply chain shortages involving rare earth elements and other essential minerals.

The agreement also requires China to address restrictions on the sale of equipment and processing technologies used in the production of those materials.

Beijing additionally committed to purchasing at least $17 billion in US agricultural products annually through 2028, on top of earlier pledges.