Top Biden administration officials dimmed hopes of an immediate easing of tariffs against China on Sunday even as they signalled scope for a more constructive relationship with Beijing.
Speaking ahead of a meeting of Group of 20 finance ministers and central bankers in India, US Treasury secretary Janet Yellen said she was eager to work more closely with China on areas of “mutual concern” following a four-day trip earlier this month that she said put the relationship on “surer footing”.
However, at a press conference that followed her remarks, she stressed that while it would be useful to identify ways to de-escalate tensions over time, it is “premature” to relax trade restrictions.
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