MOFCOM's spokesperson Gao Feng. Photo: Li Xuanmin/GT

China-US economic and trade teams are maintaining regular communication, Gao Feng,  spokesperson of Ministry of Commerce, said on Thursday at a press briefing in response to questions from the media about China-US economic and trade consultations.

Over the first seven months of this year, bilateral trade of goods between China and the US increased 40 percent year-on-year, with China's imports from the US growing 50.4 percent year-on-year, and exports to the US rising 36.9 percent, Gao said.

The bilateral trade growth fully demonstrates that Chinese and American economies are highly complementary in nature, and economic and trade cooperation between the two sides is in the interests of both countries and their peoples.

Gao Feng stressed that China has always believed that the US' imposing punitive trade tariffs is not conducive to boosting global economic recovery.

US Trade Representative Katherine Tai recently met virtually with the US Chamber China Center Advisory Board and the leadership of the US-China Business Council to discuss the US-China trade issues, according to a press released by the Office of the United States Trade Representative (USTR) on Tuesday. 

Tai noted that the Biden Administration and USTR are conducting a comprehensive review of US-China trade policy, and she acknowledged the significance of the US trade relationship with China.

Global Times