Officials from the U.S. Department of the Treasury met with counterparts in the People's Bank of China to discuss issues ranging from financial stability to countering money laundering. The delegation also met with Vice Premier He Lifeng while they were in China, according to a statement from the Treasury Department Friday. The group also indicated that Treasury Secretary Janet Yellen would return to China for a visit at some point in the future. Their two-day meeting was seen as paving the way for the later meeting between U.S. President Joe Biden and China's President Xi Jinping. There have been longstanding economic issues between China and the U.S. ever since former President Donald Trump launched a trade war, setting high taxes on a number of Chinese goods.

Source: ABC News January 20, 2024 16:50 UTC