WASHINGTON (AP) — The U.S. Treasury Department and China's Ministry of Finance launched a pair of economic working groups on Friday in an effort to ease tensions and deepen ties between the nations.
Led by Treasury Secretary Janet Yellen and Vice Premier He Lifeng, the working groups will be divided into economic and financial segments.
Yellen said the groups will “serve as important forums to communicate America’s interests and concerns, promote a healthy economic competition between our two countries with a level playing field for American workers and businesses." The two finance ministers have agreed to meet at a “regular cadence,” the Treasury Department said in a news release.
The groups' launch also comes after Secretary of State Antony Blinken met with China’s vice president on Monday on the sidelines of the U.N. General Assembly.
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