China is holding talks with the United States on canceling tariffs and sanctions, the Chinese Vice Premier Liu He said Saturday.

The Vice Premier held a virtual meeting with US Katherine Tai on Friday to discuss Chinese commercial practices that the United States deems 'unfair.'

Tonight, @AmbassadorTai spoke with Vice Premier Liu He. They had a candid exchange about the US-China trade relationship and the impact it has on the global economy.

— Adam Hodge (@USTRSpox) October 9, 2021

These exchanges were the second between the two officials after US-Sino relations were heavily damaged during the Trump administration due to the Republican president's policies toward China. The first time the two negotiators held talks was in May.

"During their candid exchange, Ambassador Tai and Vice Premier Liu acknowledged the importance of the bilateral trade relationship and the impact that it has not only on the United States and China but also the global economy," the office of the Trade Representative said in a statement.

The discussions were "an opportunity for the United States and China to commit to forging a trade relationship that is managed responsibly," a USTR official said on condition of anonymity.

The representative underscored US concerns "relating to China's state-led, non-market policies, and practices that harm American workers, farmers, and businesses," the USTR said.

The Biden administration accuses China of creating "a heavily uneven playing field in trade" through its state subsidies for national companies and intellectual property theft.

Under the Trump administration, the United States imposed tariffs on Chinese products worth $370 billion in 2018. Washington accuses "unfair" trade practices for this situation. 

Many US companies criticized Washington for said tariffs, as they drove up costs since importers were suffering the consequence.

Upon assuming office, Biden asked his trade representative to conduct a review of US trade strategy toward China and the tariffs imposed during the Trump era, which were harmful to Sino-US relations.

China expected a positive change in the US policy toward Beijing upon the change of administrations and after Biden reversed several executive orders made by his predecessor. However, the relations between the two countries did not reach any tangible changes.