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US Treasury Secretary Steven Mnuchin said he is aware of concerns about the spiraling federal debt from the pandemic-related funding bills passed by Congress, but he said interest rates are low and the need to boost the economy during the coronavirus shutdown called for quick action.

US President Donald Trump, in his acceptance speech Thursday to run for a second term, was looking to contrast himself starkly with his opponent, Joe Biden.

US Treasury Secretary Steven Mnuchin said on Monday that the US and China have a "conceptual" agreement on enforcement concerns, emphasizing positive progress already made in trade talks, CNBC reported.

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Ueli Maurer is president of the Swiss Confederation and head of the Federal Department of Finance. The author contributed this article to China Watch exclusively. The views expressed do not necessarily reflect those of China Watch.

US daily fatalities caused by COVID-19 hit 1,707 on Tuesday, the highest rise in coronavirus deaths in a single day since the country reported 1,774 daily deaths on May 14, the CSSE chart showed.

US consumer spending fell 7.5 percent in March compared with the same period a year ago. The slowdown appears to reflect a 2 percent drop in personal income in March, the US Bureau of Economic Analysis reported Thursday.

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US electric carmaker Tesla said its Shanghai factory continued to achieve record levels of production in the first quarter, with output expected to hit 4,000 sedans per week by mid-2020, according to the company's Q1 earning report released on April 29.

US President Donald Trump listens to Oklahoma Governor Kevin Stitt during a roundtable discussion on the reopening of small businesses in the State Dining Room at the White House in Washington, US, June 18, 2020. [Photo/Agencies]

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US President Donald Trump speaks about the investigations by Special Counsel Robert Mueller and the US Congress into himself and his administration in the Rose Garden at the White House in Washington, May 22, 2019. [Photo/Agencies]

US demographic data as of 2018 shows that California is now home to a Chinese population of more than 1.8 million, of which 200,000 live in the San Francisco Bay Area.