U.S. and China launch economic, financial working groups with aim of easing tensions

News Snapshot:

The U.S. Treasury Department and China’s Ministry of Finance launched a pair of economic working groups on Friday in an effort to ease tensions and deepen ties between the nations. Led by Treasury Secretary Janet Yellen and Vice Premier He Lifeng, the working groups will be divided into economic and financial segments. The working groups will “establish a durable channel of communication between the world’s two largest economies,” Yellen said in a series of planned tweets shared with The Associated Press ahead of Friday’s announcement. Yellen said the groups will “serve as important forums to communicate America’s interests and concerns,...