The US position was set out by treasury secretary Scott Bessent, who said the international economic system had to be better balanced to serve the interests of the US.

In response to President Donald Trump's assertions, China maintains that its economy remains robust despite the impact of U.S. tariffs.

US President Donald Trump said he believed trade negotiations launching this weekend with China would result in tangible progress, predicting Beijing would be willing to make concessions and saying he could consider cutting punishing tariffs against the country if there was significant momentum.