China's Vice Premier He Lifeng expressed concerns over U.S. tariffs and trade restrictions on China during a video call with U.S. Treasury Secretary Scott Bessent on Friday, Chinese state media reported.

The two sides had an "in-depth" exchange of views on important issues in China-U.S. economic relations, and both agreed to keep communicating on matters of mutual concern, according to a readout released by state media.

He, the lead China-U.S. trade negotiator on the Chinese side, and Bessent recognised the importance of bilateral economic and trade relations, the readout added.

Chinese Vice Premier He Lifeng waits for a photo session with Britain's Chancellor of the Exchequer Rachel Reeves (not pictured) before the China-UK Financial Services Summit, at the Diaoyutai State Guesthouse in Beijing, China January 11, 2025. REUTERS/Florence Lo

Friday's call came as China and the U.S. seek to manage their relationship as the world's two largest economies stand on the precipice of a renewed trade war.

U.S. President Donald Trump imposed 10% tariffs on all Chinese goods in early February, citing China's failure to stanch fentanyl trafficking.

Beijing retaliated by imposing targeted tariffs of up to 15% on some U.S. imports and put several companies, including Google, on notice for possible sanctions.

Trump has also planned further reciprocal tariffs for all countries that tax U.S. imports, a move that is likely to further escalate global trade tensions.

Trump said earlier this week he expected Chinese President Xi Jinping to visit the U.S., without giving a timeline for his trip.