US Treasury Secretary Janet Yellen met with Chinese Vice Premier Liu He.
It was reported that in the meeting where Yellen and Liu discussed macroeconomic and financial developments in their countries, increasing commodity prices and food problems were also discussed.
“Secretary Yellen has publicly voiced issues of concern, including the impact of Russia’s war against Ukraine on the global economy and China’s unfair, non-market economic practices,” the statement said. Yellen and Liu’s meeting came after reports that the US administration will lift some tariffs on China. According to some news, it was reported that US President Joe Biden is expected to remove some tariffs on products imported from China. In the news, it was reported that Biden had to choose between reducing the rising inflation in the country and maintaining the economic pressure on the Beijing administration.