China, US hold economic talks as trade issues heat up on the campaign trail

Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies as trade and tariffs increasingly draw attention in the runup to the U.S. presidential election

BANGKOK -- Chinese and U.S. officials have met in Beijing for talks on tough issues dividing the two largest economies, as trade and tariffs increasingly draw attention in the runup to the U.S. presidential election.

China’s Ministry of Finance said Beijing raised objections to higher tariffs on Chinese exports, two-way investment restrictions and other limits on trade and technology during the talks by the countries' Economic Working Group. In a statement, it characterized the Monday-Tuesday talks as “constructive."

The talks sent a “positive signal,” the Global Times, a newspaper of China’s ruling Communist Party, said in an article published late Tuesday.

“This positive trend, despite lingering disputes, offers much-needed reassurance for businesses of the two countries as well as the international community amid rising global challenges,” it said.

The U.S. Treasury Department said U.S. officials reiterated concerns over Chinese industrial policy practices and overcapacity, and the resulting impact on U.S. workers and firms.