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The US goods trade deficit with China is considered the main reason for US President Donald Trump's recent actions, but the figure does not show the full picture of China-US economic ties, according to a Deutsche Bank research report.

The US Fed launched three emergency lending facilities within two days. On Tuesday, it decided to buy commercial paper to ease market turmoil and encouraged primary dealers to extend credit to households and businesses. The Fed also made the terms of its discount window more attractive by cutting the discount window primary rate by 150 basis points and lowering the reserve requirement ratio by 10 points, so that banks would be reluctant to use the discount window as a source of funding.

The US International Trade Commission (ITC) has determined that imports of common alloy aluminum sheet from China are allegedly subsidized and sold in the US at less than fair value and harm US producers.

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The US Immigration and Customs Enforcement (ICE) announced on Monday that international students may have to leave the United States if their universities switch to online-only courses for the fall 2020 semester, warning that otherwise they will risk violating their visa status.

The US sanctions will not only harm the China-US relations and the common interests of the two countries, but also bring substantial damages to US businesses and people, he noted.

The US is also barring all travel to Iran, and barring entry to any foreign citizen who has visited Iran in the previous 14 days.

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The US president flew to Beijing from Seoul on Wednesday afternoon.

The US Capitol is seen in Washington DC, the United States, on Jan 22, 2018. US Senate reached 60 votes Monday to advance bill to end government shutdown. [Photo/Xinhua]

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The US Treasury uses three criteria to apply the designation: having large trade surpluses with the US, having a large current account surplus exceeding 3 percent of GDP and actively intervening in the currency markets. China does not meet those three criteria, and the US said on May 28 that the country was not a currency manipulator in its semiannual currency report.

The US is "close to deciding" about sending a representative to the Belt and Road summit next week in China, according to a minister at the Chinese embassy in Washington.