US-CHINA: Treasury Sec Bessent And Chinese Vice Premier He Hold 'In Depth' Call

Chinese state media reporting that US Treasury Secretary Scott Bessent and his Chinese counterpart Vice Premier He Lifeng have concluded a call to discuss the US-China economic relationship. The call is the first reported communication between the pair since Bessent assumed the top Treasury job in President Donald Trump's administration. 

• Reuters notes that, "two sides had in-depth exchange of views on important issues in China-US economic relations," with He expressing "solemn concerns" about US tariffs on Chinese imports.
• He noted that both sides "recognise the importance of China-US economic and trade relations," and "agree[d] to keep communication on issues of mutual concern."
• Bessent told Bloomberg yesterday, his first message to China will be that “we want to work together,” and that “we really want to put a stop” to the inflow of precursor ingredients for fentanyl from China."
• Bessent added on the call with He: “This is really just an introductory conversation. But as we go down the road, the Chinese need to rebalance their economy in favor of consumption. They are suppressing the consumer in favor of the business community.”