China urges US to 'reduce misunderstanding' on economic, trade relations

China on Tuesday urged the US to "reduce misunderstanding" on the economic and trade relations between the two nations, expressing hopes to enhance cooperation.

"On tariffs, China's position is consistent and clear," Chinese Foreign Ministry spokesman Guo Jiakun told a news conference in Beijing.

His remarks came after US Treasury Secretary Scott Bessent said on Monday that the next Beijing-Washington tariff talks could include a discussion of China's purchase of Russian and Iranian oil.

"The Chinese, unfortunately, are very large purchasers of sanctioned Iranian oil (and) sanctioned Russian oil -- so we could start discussing that," Bessent told CNBC during an interview.

The spokesman expressed his hopes for the two sides to "build up consensus, reduce misunderstanding, and step up cooperation through communication and dialogue, and promote a steady, sound, and sustainable development of bilateral relations."

"We hope the US will work with China to implement the important common consensus reached by the two presidents during the phone call, give foreplay to the role of the economic and trade consultation mechanism," Guo said.

As the trade war peaked in April and May, the world's two largest economies swiftly raised tariffs on each other's goods to triple-digit levels in a tit-for-tat escalation.

Talks in Geneva and London, led by Bessent and Chinese Vice-Premier He Lifeng, prompted Washington and Beijing to temporarily reduce tariffs until mid-August, as the two sides agreed on a framework to reach a trade deal.

A phone call in June between US President Donald Trump and Chinese President Xi Jinping further eased tensions, followed by the first face-to-face meeting between US Secretary of State Marco Rubio and Chinese Foreign Minister Wang Yi.