Kuala lumpur: US and Chinese officials have begun a new round of talks aimed at easing tensions between the world’s two largest economies.

According to National Iraqi News Agency, the Chinese and US delegations held a meeting on Saturday in the Malaysian capital, Kuala Lumpur.

The Chinese Ministry of Commerce explained in a statement that the two sides will hold consultations on important issues in economic and trade relations between China and the United States, in accordance with the important consensus reached by US President Donald Trump and his Chinese counterpart, Xi Jinping, during their phone calls this year.

Chinese Vice Premier Hi Lifeng led the Chinese side, joined by Vice Minister of Commerce Li Zhenggang and Vice Minister of Finance Liao Min. US Treasury Secretary Scott Besant led the US side. Besant and Hi Lifeng are negotiating to ease the newly escalated trade measures imposed by the two countries against each other. They will also pave the way for talks expected next Thursday between US President Donald Trump and Chinese President Xi Jinping on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in South Korea.