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US and China spoke on the world economy, commodity pricing, and food security

According to the news source, US Treasury Secretary Janet Yellen spoke virtually with Vice Premier Liu He of China about the state of the world economy, commodities pricing, and food security.

They spoke openly and in-depth about the macroeconomic and financial trends in China and the United States, the prospects for the world economy in the face of rising commodity prices, and issues with food security, according to a statement released on Monday.

The effects of Russia’s war against Ukraine on the global economy and unfair, anti-market PRC (People’s Republic of China) economic policies were among the topics that Secretary Yellen openly emphasized, according to the statement.

According to the statement, the meeting was a part of US President Joe Biden’s administration’s efforts to keep lines of communication open.

According to the US Census Bureau and the Bureau of Economic Analysis, the US had a trade deficit of more than USD34.9 billion with China in April and USD112.7 billion in the first quarter of 2022.

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