July 3, 2017 / 11:48 PM / a month ago

Chinese vice premier talks economy with U.S. Commerce Secretary Ross: Xinhua

U.S. Commerce Secretary Wilbur Ross looks up while addressing the SelectUSA Investment Summit, National Harbour, Maryland, U.S., June 20, 2017.Kevin Lamarque

SHANGHAI (Reuters) - Chinese Vice Premier Wang Yang discussed China-U.S. economic relations on the phone with U.S. Commerce Secretary Wilbur Ross on Monday, the state-run Xinhua news agency reported.

The talks come after U.S. trade officials said Washington is considering trade actions against Beijing, including tariffs on steel imports.

China, though, is prepared to counter potential trade penalties from U.S. President Donald Trump and is preparing for the worst even as they hope for business-like negotiations.

Reporting by Engen Tham; Editing by Shri Navaratnam

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